UAE Guide: How to De-register your Firm under VAT in Dubai and Abu Dhabi?

INTRODUCTION

VAT in Dubai was introduced in the UAE on 1^st of January, 2018 to diversify its source of income for the benefits of the public. VAT is applicable at a standard rate of 5%. Registration under VAT means getting recognized by the government of Dubai as an authorized supplier of goods and services. As per FTA, only registered suppliers can collect VAT. Also, it demands proper maintenance of books of accounts and other records for proper compliance under the law to avoid penalties.

After following the VAT registration procedure in Dubai, UAE, a business can work under the VAT Law. But it may happen anytime during the course of business that, the firm may be required to apply for de-registration in Dubai, UAE.

De-Registration under VAT Law in Dubai

A registered person can apply for de-registration, in the following cases:

1. If a person stops making taxable supplies.
2. If his value of aggregate supplies falls below threshold limit for registration.

However, a person who has applied for voluntarily registration cannot de-register within 12 months of the date of registration.

Things to be kept in mind before applying for de-registration in Dubai, UAE are:

1. All taxes are duly paid.
2. Penalties, if any have been duly paid.
3. All returns required are also duly filed.

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