How to apply for VAT Deregistration in UAE?

VAT Consultants in Dubai VAT Consultancy Services in Dubai Approved by FTA UAE

We are an approved and registered VAT consultants in UAE with Certified VAT experts by the Federal Tax Authority (FTA). Understanding the concept of the tax is the first step to compliance and we do support for VAT Registeration, VAT return filing, VAT auditing, VAT Advisory services in Dubai, UAE. Make sure your business is VAT-ready with the help of KBA – the trusted VAT consultants in Dubai today.

We are a specialized Accounting and Book Keeping Services Company. We provide cost effective and efficient accounting solutions to our clients. KBA Accounting and Bookkeeping Services LLC is a UAE registered VAT and financial services consultancy, providing cost effective value added solutions to meet all your business needs under one roof. We follow highest level of professional ethics and quality in our services. https://www.kbame.com/ KBA covers a wide range of accountancy services, from management accounts and business planning to VAT returns and Payroll. Our accountancy clients come from many different backgrounds and industries, both in the UAE and overseas. https://www.kbame.com/ Expert VAT Consultancy in UAE for all Your Businesses

KBA Accounting and Bookkeeping Services LLC is an industry-leading accounting and consultancy firm in Dubai. Offering comprehensive VAT consultancy with VAT Experts and VAT return filing solutions to companies all over the UAE. We help educate businesses on the financial impact of the tax to goods and services, and the measures they can take to mitigate the effects. We can guide businesses on the steps to proper taxation compliance, vat refund and adoption including the necessary updates to accounting systems and databases.

In UAE, if a business wants to cancel its VAT registration with the federal department, they have to opt for VAT deregistration process. This is an online process and whether it is individuals or businesses, they should be in any one of the below situations to go for VAT Deregisteration in UAE.

• Any business that ceased to make the taxable supply.
• If the business fails to earn or incurred expenses AED 187,500 in the first twelve months after registering themselves for VAT with the federal department.

Any business that didn’t earn or incurred expenses AED 187,500 in the first twelve months after VAT registration with FTA can analyze and check whether it is possible for them to make 187,500 in the next coming thirty days. This is a grace period and after that they will have twenty days to complete VAT registration.Procedure for applying VAT Deregisteration in UAEThe companies that are closing down should upload their liquidation letter from authorities while the companies that didn’t make AED 187,500 should provide their financial statements to the FTA. The entire process can be done online only without any hassle.Just go to the FTA Website and in the home page, click on the option- "De-registration." Now you will get a deregistration form, fill that. Ensure that you are giving correct information to the authorities. Send it to them and they will review the application and verify your business.Once the verification is done, the status of your application will convert to "pre-approved". The next step is the business has to submit the final VAT return filing and clear all the outstanding liabilities and refundable. This way the process for VAT deregistration in UAE will be completed.The VAT deregistration must be done in 20 days in any of the above-mentioned circumstances. The FTA will levy penalty on any business that fails to do so. The authorities will approve de-registration once their penalty is cleared.This entire process may seem a little bit chaotic to a person who doesn’t have proper idea. This is the reason why you have to get in touch with a reliable VAT consultant in Dubai who will help with the entire deregistration process. This way the work will be done in time and there won’t be any mistakes either. The VAT Consultancy with good experience will handle the entire process while you can focus on any other work you have.

KBA Accounting and Bookkeeping Services LLC is a UAE registered VAT and financial services consultancy, providing cost effective value added solutions to meet all your business needs under one roof. We follow highest level of professional ethics.