Mandatory Tax Deregistration

If the value of taxable supplies made or taxable expenses incurred by the registrant over the previous 12 months is less than AED 187500 and expected turnover over the next 30 days are not expected to exceed AED 187,500 the registrant must apply to the authority for Deregistration within 20 business days otherwise administrative penalty of AED 10000 will be levied. Suppose turnover of a taxable person during preceding 12 months is AED 150,000 and in next 30 days its expected turnover is 10,000 so as per law he is required to apply for deregistion and the person applied for Deregistration . After 6 months he got a contract above AED 375,000, then again he is required to get VAT registration ?

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SAJITH N31/05/2020 20:45:10

Yes, even if a company gets de-registered they need to assess if they would be obligated to get registered again

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