VAT deregistration is required in the following cases:
- If a Registrant stops making Taxable Supplies.
- If the amount of the Taxable Supplies made over 12 consecutive months is less than the Voluntary Registration Threshold, i.e., AED 187,500/ and a Registrant does not anticipate to cross the Voluntary registration threshold during the subsequent 30-days.
The Registrant must apply for deregistration as per the above cases within 20 business days of the occurrence of any of them. Failure to apply will result in a penalty.
Upon FTA confirmation of acceptance of your deregistration application form, a message will generate to notify “Deregistration Pre-Approval.” In your dashboard, the status of your deregistration will change to ‘Pre-Approved.’
The final tax return is required to be submitted through the “VAT returns” section in the FTA portal. An email and an SMS notification will be generated to inform the status of the application and request for payment of the outstanding liabilities.