VAT termination - Deregistration under VAT
Businesses in UAE are eligible to deregister from VAT under these conditions
- Business no longer making taxable supplies
- Business making taxable supplies, but below the Voluntary threshold
- Business making taxable supplies, above the Voluntary Threshold, but below the mandatory threshold
How to apply?
You can apply on the FTA portal or our VAT consultant can process your deregistration application on your behalf.
After submitting the application
Initially the application status sets to “pending”. Once the FTA confirms acceptance of your de-registration application form the status changes to “pre-approved” and you will be notified.
The other requirement might be to submit a final tax return. The notification will be sent to your mobile number registered in the portal through SMS. If there is any outstanding amount pending to the FTA you will be notified to complete the payment.
What is the timeframe?
You get a time limit of 20 days after your application gets approved from FTA failing to apply will be liable for fines and penalties for late submission upto AED 10,000. But this is not in case of voluntary deregistration where there is no timeframe mentioned.
How can we help you?
Mideast Accounting has a profound experience dealing with deregistrations of VAT for any types of business. In case you need more information or want us to file your deregistration contact us and our VAT consultant will get in touch with you.