Deregistration Triggers
Mandatory
Business ceases to make taxable supplies entirely. Must apply within 30 days of cessation. Failure to deregister — continued filing obligations and potential penalties.
Voluntary
Taxable turnover falls below BD 18,750 (voluntary threshold) for 12 consecutive months. Cannot deregister if turnover is between BD 18,750 and BD 37,500 and originally mandatorily registered.
Final Obligations
📋 Final VAT Return
File a final return covering the period up to deregistration date. Account for output VAT on all remaining stock and assets at market value (deemed supply).
💰 Capital Goods Adjustment
Repay any over-claimed input VAT on capital goods under the Capital Goods Scheme. Property: 10-year adjustment. Equipment: 5-year adjustment period.
📂 Record Retention
Keep all tax records for minimum 5 years after deregistration. NBR can audit up to 5 years after the relevant return period. Electronic records must remain accessible.