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De-registering your Tax Registration Number (TRN) is as important a registering for VAT. The Federal Tax Authority (FTA) has made it mandatory to de-register for VAT if the business meets certain criteria.
Administrative penalties have been imposed if the de-registration procedure isn’t carried out or has been delayed.
A taxable person can be deregistered under 2 factors:
Timeframe to avoid penalty:
Time Frame to avoid penalty:
The penalty for late mandatory de-registration of VAT is AED 10,000.
Flyingcolour® Tax Consultant and J N J Auditing LLC provide Accounting and Bookkeeping services, Tax related services, Auditing, Economic Substance Regulation (ESR) services, Anti-money Laundering compliance services, Tax Residency Certificate Assistance, Payroll Services, Excise Tax services, other compliance, and CFO services, etc. through our team of experienced professionals. We cover comprehensive and customized packages tailored to your specific requirements.
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