The Most Trusted VAT De-Registration solution Provider
There are many businesses that meet the criteria for the registration under VAT or already been registered. But there are other hindrances like deregistration of VAT that needs a very efficient team with the experience to tackle the process, so you don’t face penalties and make it smooth affair.
Alkhadim is a Service-oriented company, punctual Professional. We have employed them for the De-registration process and are very pleased with their quality of service and timeliness.
Alkhadim is a great consultant. The team does what they promise and provide the right advice coupled with impeccable execution for De-registration. I wish them all the best.
It has been a pleasure working with Alkhadim over the past year on a wide range of needs. Alkhadim is a one-stop shop for all our UAE business problems, and I appreciate the speed of responses from the team on my deregistration process.
I Have contacted Alkhadim, a few years ago to deregister a company in Dubai Free Zone, Alkhadim helped me with all the process in a very short time frame. Since then Alkhadim team has assisted and supported my company with all our administrative and legal requirements. I would just like to send my sincere thanks to you and your amazing team for all the assistance I have received during the past years
VAT Deregistration/Cancellation Service in UAE
The termination of VAT registration is called VAT Deregistration. In UAE deregistration of VAT is when a business cancels its VAT registration from the Federal Tax Authority (FTA). A registered individual or company is required to comply with the required rules and processes under VAT. The company or individual has to issue the invoice in specific format, fill the return on a timely basis and tax dues need to be paid by the due date.
There could be various reasons that can be opted for the VAT cancellation. The reasons are needed to fall under the conditions defined by the FTA. Until and unless the reasons are valid and the condition is fulfilled, the Federal Tax Authority might refuse the application to deregistration.
In UAE the VAT deregistration is as important as it is to register for VAT by the taxable individuals and businesses. It’s very important for the business and the individual to know the rules and process for the cancellation of VAT while failing to file an application within the time period specified by the tax law could cost you administrative penalties.
What is VAT Deregistration?
The tax deregistration is the provision for a registered taxable individual or the company to cancel VAT registration. In the direct, it meant to deactivate the registration. It can be applied for the individual registered with FTA and meets the condition for de-registration
When a person can apply for VAT Deregistration?
There are certain criteria for the deregister of VAT in UAE, this can be done by logging into your account in the portal of FTA. After login, provide the details in the VAT deregistration form.
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The decision for approval of the application for deregistration of VAT depends on the provided reasons: –
- Outstanding taxes against the entity and does not demand to make any taxable stocks over the next 12-month time.
- Returns being filed.
- Any type of administrative penalties has been paid.
Process of VAT Deregistration in UAE
Here is the process of VAT de-registration from FTA:
A registrant should apply deregistration within 20 business days of the occurrence of either two events. The registrant should ensure that due to tax and administrative penalties that have been paid and tax returns are filled. The registration will not be canceled until these things are fulfilled.
If the deregistration application is approved, the tax registration of the individual will be canceled with effect from the day of applying for deregistration has occurred or the date decided by FTA. A notification will be sent to the individual within the 10 days of approval of the deregistration application.
What is Mandatory tax Deregistration in UAE?
The registration of an individual can be canceled if FTA found that two of the above conditions listed are satisfying. This is called mandatory tax deregistration.
The deregistration option is for the individual who has registered under VAT but does not continue to make supplies required registration. Such individuals or companies don’t need to continue being registered and they can apply for tax de-registration on meeting the applicable VAT deregistration requirements.
How we can help you by our services?
We at Alkhadim LLC are too anxious to aid with the process of deregistration for any individual or the company. As we have a team of experts with experience and when it comes to managing VAT compliance, we are the trusted one in UAE.
What is the advantage of VAT De-registration?
There are very few advantages of de-registration that are mentioned below:
- The main advantage of de-registration of business is that they can make supplies to unregistered individuals and businesses at cheaper rates than registered counterparts.
- The business didn’t have to pay VAT compliance fees. But the nominal threshold limit makes very few businesses eligible for deregistration.
What is VAT De-registration penalty?
There is a penalty on an individual or the company if they fail to apply for mandatory deregistration of VAT within the time frame of 20 working days If this event happens the taxpayer entity to get eligible for tax deregistration is AED. 10,000.