Abstract: Abstract: It is found that the VAT is included in Fair value in the context which the separation of “price” and “tax” applied in the VAT accounting by means of the logical deduction of four specific accounting standards. The reasons of the problems mentioned above is that the background of tax is neglected when the accounting standards are introduced into China, i.e., there is not any VAT in the original country, America , also, there is not any requirement to separate “price” and “tax” in practice. The measurers are the following: (1) to identify the specific measurement units of “Fair Value” in the forthcoming accounting standards; (2) to rectify the wrong cognition about VAT and to account for VAT as accounting element in order to abide by the essence of economics. In conclusion, the research solve the application of fair value measurement and related treatment of VAT involved; moreover, the new perspective of FV is put forward aimed at the guidance of formulation of accounting standards of FV measurement and the providing reference to the international accounting standards No.13.