Lou Jiwei

International Tax Review is part of Legal Benchmarking Limited, 1-2 Paris Garden, London, SE1 8ND

Copyright © Legal Benchmarking Limited and its affiliated companies 2025

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Lou Jiwei

Minister of Finance, China

Lou Jiwei

Lou Jiwei, the Chinese Minister of Finance, wins a spot in this year’s list of the most influential people in tax for the sheer speed and efficiency with which his country’s VAT pilot was rolled out. While India and Malaysia have been heaping delay upon delay in implementing their GST systems, China just rolled up its sleeves and got it done.

Despite being the world’s most populous country, China managed to take a VAT pilot, which began in Shanghai in January 2012, and roll it out nationwide in August 2013. No fuss, no bother, it has even gone down well with businesses.

“The Chinese VAT reform will gather further pace, with more goods and services being brought into the successful national VAT reform package, launched in August 2013,” says Richard Asquith of TMF VAT. “We can expect a first draft proposal for the VAT financial services regime, including VAT on insurance.”

Not many communists make it into International Tax Review’s Global Tax 50, but Jiwei, who was elected Minister of Finance in March 2013, earns his place for the man at the helm of China’s vast emerging economy. VAT reform will help open China up for business and its pilot may prove a model for other Asian countries to follow.

Further reading

China unveils plans for national rollout of VAT reform pilot

China to roll out VAT pilot nationwide in August


The Global Tax 50 2013

« Previous

Antony Jenkins

View the complete list

Next »

Carol Doran Klein

more across site & shared bottom lb ros

More from across our site

Imposing the tax on virtual assets is a measure that appears to have no legal, economic or statistical basis, one expert told ITR
The EU has seemingly capitulated to the US’s ‘side-by-side’ demands. This may be a win for the US, but the uncertainty has only just begun for pillar two
The £7.4m buyout marks MHA’s latest acquisition since listing on the London Stock Exchange earlier this year
ITR’s most prolific stories of the year charted public pillar two spats, the continued fallout from the PwC Australia tax leaks scandal, and a headline tax fraud trial
The climbdowns pave the way for a side-by-side deal to be concluded this week, as per the US Treasury secretary’s expectation; in other news, Taft added a 10-partner tax team
A vote to be held in 2026 could create Hogan Lovells Cadwalader, a $3.6bn giant with 3,100 lawyers across the Americas, EMEA and Asia Pacific
Foreign companies operating in Libya face source-based taxation even without a local presence. Multinationals must understand compliance obligations, withholding risks, and treaty relief to avoid costly surprises
Hotel La Tour had argued that VAT should be recoverable as a result of proceeds being used for a taxable business activity
Tax professionals are still going to be needed, but AI will make it easier than starting from zero, EY’s global tax disputes leader Luis Coronado tells ITR
AI and assisting clients with navigating global tax reform contributed to the uptick in turnover, the firm said
Gift this article