German official: border adjustment tax a 'significant concern' that does not 'fit in with VAT system'

German industry and embassy representatives, in previewing German Chancellor Angela Merkel's visit to the White House this week, warned that the House GOP proposal for a border adjustment tax is a “significant concern” to Germany and said that despite claims made by some U.S. lawmakers the plan is not equivalent to a value-added tax system. “Certainly there is very significant concern about such a proposal, but I think it would be hard to judge it in all of its details...