VAT deregistration in UAE permits taxable person to cancel their VAT registration and suspend their Tax Registration Number (TRN). Taxable person that are registered with FTA are required to deregister from VAT on a compulsory or voluntary basis.
VAT deregistration becomes compulsory to the FTA-registered taxable persons:
a. Cease to make/trade taxable supplies and have no intention of making future taxable supply. Or
b. Make taxable supplies, but the turnover in the last 12 months is less than Voluntary Registration Threshold of AED 187500.
Taxable person can voluntarily deregister themselves if their taxable supplies during last 12 months fall below mandatory registration requirement of AED 375000, but it is more than AED 187500 once 12 months have completed from the date of registration.
Taxable person is required to file for deregistration within 20 days of fulfilling the condition for compulsory deregistration. Failing which can lead to penalty of upto AED 10000.
1. Help you by constantly monitoring turnover of the business to confirm if you are eligible or required to apply for deregistration.
2. Help you in filing proper and accurate information for seamless processing of the application.