VAT Deregistration Services in UAE
VAT de-registration, also known as cancellation or termination of VAT registration, is usually performed when a company needs to cancel its VAT registration with the UAE Federal Tax Authority.
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In Dubai, UAE, VAT de-registration is possible only if the termination grounds are acceptable and all legal requirements are satisfied.
Businesses in the UAE can de-register from VAT if their sales post-registration do not reach AED 187,500 during the first 12 months of registration or if the business fails to produce taxable supplies.
When can a Business Apply for VAT De-Registration Service in UAE?
A VAT-registered business may file for VAT De-registration in the following two types:
Voluntary De-Registration | Mandatory De-Registration |
The business stops making taxable supplies and intends to avoid making any taxable supplies during the next 12-month period. | A business must perform VAT De-registration when it stops providing taxable goods and services. |
A Business can de-register from VAT voluntarily if its annual turnover for the last twelve months is less than AED 375,000. | The firm’s taxable supply or expenses over 12 months are less than the VAT registration threshold (AED 187,500), and they expect to stay within this threshold in the next 30 days. |
Note: A business that has voluntarily registered for VAT cannot apply for de-registration within 12 months of the registration date.
Reasons for Disapproval of the Application
FTA will refuse to de-register the business under the below circumstances:
- An application can only be accepted if it is submitted within 20 business days of receiving it.
- Documents should adhere to the information submitted.
- Late payment of taxes.
- If the company still needs to file all your required tax returns for the registration period.
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The expert will help to tackle business issues by following proper Accounting and Auditing guidelines will also assist you to scale up your business. JAXA also provides various other services such as Tax Services, Payroll Services, Cash flow forecasting and many more.
Jaxa Chartered Accountants provides reliable VAT services in Dubai, UAE, supported by a team of experienced auditors and tax consultants to ensure complete VAT compliance.
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Businesses must file for VAT de-registration within 20 days(approximately 3 weeks) of applying. If they violate this rule, the FTA may levy a severe penalty of AED 10,000 on them.
Given the facts, you do not have to file for de-registration in your situation.
Article 21 of the VAT Law requires you to de-register from VAT within 20 business days following the event that compels you to de-register with the FTA.
You are not required to present turnover predictions if your de-registration request is mandatory because you have ceased operations, sold your business, or joined a VAT group. However, after submitting your application, you must wait for FTA to confirm the date your business will be de-registered.
There are no costs involved.