VALUE ADDED TAX
What We do
VAT deregistration services in Dubai is a crucial process for businesses that have ceased taxable activities or are undergoing liquidation. Timely compliance is essential to avoid penalties and ensure adherence to UAE VAT laws.
Timeframe for VAT Deregistration
Businesses are required to submit a VAT deregistration application to the Federal Tax Authority (FTA) within 20 business days from the date they become eligible. Failure to comply within this period can result in financial penalties.
Eligibility for VAT Deregistration
Entities should consider deregistration under the following circumstances:
Compulsory Deregistration: Applicable if a company has ceased trading or its taxable supplies and imports have fallen below the voluntary registration threshold of AED 187,500 over the past 12 months.
Voluntary Deregistration: Applicable if a company’s taxable supplies and imports are below the mandatory registration threshold of AED 375,000 but exceed AED 187,500 in the last 12 months.
Who Needs This Service
This service is essential for:
Businesses Ceasing Operations: Companies that have stopped trading or are in the process of liquidation.
Entities with Reduced Turnover: Businesses whose taxable supplies have decreased below the specified thresholds, making VAT registration no longer mandatory or beneficial.
Cost Implications
While the FTA does not charge a fee for the deregistration application, non-compliance can lead to significant penalties. Failing to apply within the stipulated 20 business days results in a fine of AED 1,000 for each month of delay, up to a maximum of AED 10,000. Engaging professional assistance can help ensure timely and accurate submission, potentially avoiding these penalties.
How Tax Gian Can Assist
Navigating the VAT deregistration process can be complex. Tax Gian offers comprehensive services to streamline this procedure, including:
Eligibility Assessment: Determining if your business qualifies for deregistration.
Documentation Preparation: Assisting in the accurate preparation and review of required documents.
Application Submission: Facilitating the submission of your application through the FTA’s EmaraTax platform.
Final VAT Return Filing: Guiding you through the process of filing the final VAT return.
Liability Settlement Support: Helping to resolve any outstanding tax liabilities.
Refund Application Assistance: Assisting in claiming any eligible VAT refunds.
FTA Communication: Managing correspondence with the FTA on your behalf.
Audit Support: Providing support during any audits or inquiries from tax authorities.
Engaging with experienced professionals like Tax Gian ensures that the VAT deregistration process is handled efficiently, allowing businesses to focus on their core activities without the risk of incurring unnecessary penalties.
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