David Hariton on Border Adjustments

In a recent article in Tax Notes (available here), Sullivan & Cromwell Tax Partner David Hariton argues that a border adjustment regime would create the need for as much complexity as the proposal would eliminate. April 18, 2017
Border adjustments would levy a tax on imports and grant an exclusion for export proceeds (see post on Border Adjustments, here). As a result, the author suggests that taxpayers would put more energy and brainpower towards pursuing the exclusion than towards paying the tax, and a complex body of rules would therefore have to be created to account for this fact. Otherwise, the border adjustments would end up creating a large net loss for the U.S. Treasury.