In 2016，a fundamental change took place in the circulation tax system in China. Business tax was completely removed from the historical stage and replaced by value-added tax. As one of the four pillars of financial leasing business，tax issues have been greatly affected. This report sorts out the major taxes of financial leasing and the turnover taxes of financial leasing under different historical backgrounds，analyzes the tax policy content and tax requirements of replacing the business tax with a value-added tax，deeply analyzes the impact of replacing the business tax with a value-added tax on financial leasing participants，discusses the adverse factors and puts forward corresponding Suggestions. For Banks and leasing lenders，a higher tax rate does not necessarily mean a higher effective tax burden. Financial leasing enterprises are the most affected. As the actual ultimate payer of VAT in the loan link of leasing business，they need to pay 6% VAT，resulting in the increase of tax burden. The lessee is the undertaker of all costs and expenses in the final finance lease business. Replacing the business tax with a value-added tax is good for improving the collection of leasing turnover tax and ensuring the full tax coverage of leasing business link by link，but there are some problems that cannot be deducted or cannot be fully deducted.