Parsh VAT Deregistration Service in Dubai

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Deregistration allows a business to withdraw from the liability to pay taxes. VAT deregistration in UAE is as important as VAT registration. In certain cases, a business might need to cancel its VAT registration which means that it cancels its VAT enrolment. A business should have a genuine reason for VAT deregistration and all conditions should be met otherwise the application may get rejected by FTA.

A business can apply for deregistration if the annual turnover in the first 12 months after registration does not exceed AED 187,500 or if the business has stopped operations and taxable supplies. A business that stops functioning is required to get a company liquidation letter from the Govt authorities to apply for VAT deregistration. Parsh offers VAT deregistration services and can take care of all the formalities required in the process of deregistration for your business.

A business can deregister either voluntarily or mandatorily. Here are the rules for both.

Voluntary Deregistration

For voluntary deregistration, the following are the certain conditions a business should fulfill.

  • The business should complete 12 months from the date of tax registration.
  • It no longer supplies taxable goods.
  • The annual turnover is less than the required limit of AED 187,500.
  • If the total value of taxable supplies and expenses is less than the voluntary registration threshold.
  • If the company has stopped all operations and functions.

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Mandatory Deregistration

A business can apply for mandatory deregistration if,

  • The revenue earned is less than AED 375,000.
  • The business no longer supplies taxable goods.

Submission of Deregistration Form

Deregistration can be done online through the website of FTA.

  • Log in to your VAT account on the FTA website
  • Fill out the VAT deregistration form along with the reason for deregistration
  • You will receive a confirmation SMS on your registered number
  • Submit the form online.

Once the form is submitted, the application status will appear as “pre-approved”. When you clear all the liabilities it will change to “approved”. In case your turnover is below the threshold but you want to continue doing business and are looking for investors, do not apply for deregistration. File your tax return as zero if you expect your business to earn good returns in the next 12 months.

Situations in which an application can get rejected

A deregistration application can get rejected if

  • It is not submitted within 20 business days
  • All dues like taxes and administrative penalties are not paid
  • If all the required tax returns are not filed in the period a business is registered.

Why Choose Parsh for Deregistration Process?

Parsh can help you in the deregistration process keeping in mind compliance with the FTA laws. Our team of experts makes the deregistration process easy for you, analyzing the reasons and reviewing your business activities. We specialize in all types of VAT services. If you have any requirements regarding any VAT-related issue, discuss them with us. Our experts will answer all your queries and support you.

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