Company DXB LLC registered on the basis of mandatory registration threshold.

File 5th return till Jan-2019 with turnover of AED- 470,000.00

In February 2019 company DXB LLC transfer / Sale the plant to another company DXD LLC.

The income is zero from February 2019 till now (January 2020) and DXB LLC still have expenses of more than 400,000.00 from February 2019 to January 2020.

Q-1. Deregistration is required for DXB LLC.

Q-2. If yes when should it deregistered.

Q-3. If deregistration is not required than DXB LLC should change its status from mandatory to voluntary.

Naina Gupta01/03/2020 16:57:55

You should apply for de registration where you do not i tend to make ay taxble supplies in future. Since your expenses incurred exceed the Voluntary registration threshold, you can opt to be registered but practically it will make sense only if u intend to make taxble supplies

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Naina Gupta01/03/2020 16:59:46

Else, there will be no point continuing to be registered but wth no possibility to either claim a refund or offset th e input VAT

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