Since March 2016，while the financial sector implement the policy of“Value-added Tax”，the Ministry of Finance and State Administration of Taxation issued a series of files，making regulations on VAT of asset management products，confirming that conducts should be levied VAT during the asset management since January 1，2018.Recently，to research the industry influence of TAV for asset management products and the possible problems during the implementation，the Financial Department of the State Council Development Research Center visited and discussed with many different typical enterprise in this industry.This report first summarizes the main content and development of the current VAT system，and then summarizes the main problems existing in the current tax system.Based on the characteristics of asset management products，and drawing on foreign experiences，this report proposes basic principles that should be followed when designing tax system of asset management products，and puts forward some specific recommendations.