What happens to TRN in case of company De-registration
Our company is in a Freezone in UAE with no taxable turnover. Do we need to de register? Incase yes,what happens to TRN linked to customs.
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Mahnaz Dana25/07/2019 16:46:55
As per Article (14) of Executive Regulations of the Federal Decree-Law No (8) of 2017, all VAT registered companies who have reported taxable supplies include a zero-rated supplies or taxable expenses (excluding any exempt or out-of-scope supplies) of less than AED 187,500 in 2018 (past 12 months) need to mandatory deregister. A failure to deregister may attract a penalty of AED 10,000/-
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