If your business has fallen below the threshold or is undergoing significant changes, applying for VAT Deregistration can simplify your tax obligations. Stay compliant and focus on what matters most to your success.
VAT Deregistration refers to the process of canceling a business’s registration for Value Added Tax (VAT). This means that the business will no longer be required to collect and remit VAT on its supplies.
In the United Arab Emirates (UAE), businesses may choose to deregister for VAT under certain circumstances. Here are some situations where VAT deregistration may be applicable:
To apply for VAT deregistration in the UAE, businesses need to submit an application to the Federal Tax Authority (FTA). The application should include relevant details and supporting documents explaining the reason for deregistration.
It’s important to note that deregistration for VAT does not absolve a business from fulfilling its obligations and responsibilities until the effective date of deregistration. This includes filing VAT returns and making any outstanding VAT payments.
If you are considering VAT deregistration or have specific questions regarding your situation, it is advisable to consult with the official sources such as the Federal Tax Authority (FTA) or seek professional advice to ensure compliance with the applicable regulations and procedures. ITC Tax Consultancy with its tax expert’s support will help you do it without any hassle. Talk to our tax experts now!
This article was published on 19 May 2023
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