MADRID – The Minister for the Treasury, CristóbalMontoro, admitted in
Congress this week to the failure of what had been one of the PP’s star planks
in its electoral programme and had predicted the new caja
system would allow 2.3 million small businesses and individuals to pay their
VAT tax when they have been paid themselves. Only 22,090 have subscribed to it.
At present VAT is collected when a bill is issued, or via a monthly or
tri-monthly estimate procedure. Montoro promised to reform the law to make the
new system more attractive, but now admits the expected flood of businesses
applying for the change – he had predicted that 2.3 million small businesses (pymes, from pequeña y mediana empresa) and/or self-employed (autónomos) -- simply haven't subscribed to the idea. (Source: El País online)
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