VAT Deregistration in UAE is done through the FTA portal and is a process that allows businesses to withdraw from paying taxes either mandatorily or voluntarily. Business entities that stop functioning require a liquidation letter from the concerned authorities while applying for such services. The great news is that we have a well capable team to offer seamless VAT deregistration services in the UAE.
According to the Federal decree-law no 8 of 2017 on VAT, companies can choose deregistration from the VAT based on certain conditions in accordance with this law. This process is just as important as VAT registration in the UAE so it is advisable to get professional help from a reputable tax consultancy and accounting firm such as our brilliant team of financial advisors.
It is important to carry out the VAT deregistration in the given amount of time, otherwise, you may need to face hefty fines from the authorities. It involves so much more than simply contacting the FTA and informing them you are no longer eligible for VAT. Our experts can guide you on this entire process and make sure it is done properly.
For starters, it is important to fullfill all the requirements for VAT deregistration, next we need to log into the FTA portal and fill in all the details and the reasons for deregistration. Last, the form will be submitted electronically.
Once your application for VAT Deregistration is submitted to the FTA, you need to wait for review and approval. If for any reason the conditions have not been met, they can reject the application. It will be cleared only once all the liabilities will be cleared. It is better not to go ahead with the VAT cancellation process if you are waiting for a new investor or plan to continue your business in the future. In this case, better keep the TRN and file your return as zero if your company is expecting a good return within the next 12 months.
How can we help you in the Deregistration process?
Our expert services will analyse all the reasons to make the VAT deregistration process easy for you. We identify the need and importance of all your VAT-related services in the UAE and various other business-related services too. We will work towards completing all the procedures before the deadline and work closely to make sure everything remains in compliance with the UAE VAT laws and with the rules and regulations of the FTA.
If you have any queries about the VAT de-registration process, our team is here to support you and give you a detailed consultation on the same. Let us help take the pressure off your back with timely and accurate VAT de-registration and other related services.
Ready to get started on this? Please reach out to us for more details and our team will get back to you shortly.