VAT Deregistration
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VAT Deregistration
Generally, the end or withdrawal of VAT selection is called VAT Deregistration. As per the law portrayed under the rules of FTA, the following capability is ought to apply for VAT Deregistration in UAE.
1. Mandatory VAT Deregistration
An entity must apply for Tax Deregistration under the following circumstances:
- When it ceases to engage in Taxable Supplies.
- If the total value of Taxable Supplies conducted over a continuous 12-month period falls below the Voluntary Registration Threshold (e.g., AED 187,500), and there's an expectation that this threshold won't be met in the coming 30 days.
2. Voluntary VAT Deregistration
A company can apply for Tax Deregistration voluntarily if:
- A company can apply for Tax Deregistration voluntarily if: The value of its Taxable Supplies in the preceding year does not reach the Mandatory Registration Threshold (e.g., AED 375,000).
- 12 calendar months have elapsed since the entity was initially registered with the FTA under continuous registration.
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How to Apply for Vat Deregistration?
Requests for deregistration can be submitted via the FTA Online Portal. Upon logging in, the VAT deregistration form for the UAE can be filled out with the necessary details and the rationale behind the deregistration. Certain information will be pre-filled based on the previous registration data.
The FTA’s approval of a VAT deregistration application depends on several factors, including:
Deregistration Penalty
Failing to apply for VAT deregistration within the stipulated timeframe, i.e., within 20 business days, results in a penalty of AED 10,000.
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