Closing your business or below threshold — deregister properly.
Business ceases to exist. No longer making taxable supplies. Must apply within 30 days of cessation. Failure = continuing filing obligation + penalties.
Taxable supplies below BD 18,750 for 12 consecutive months (or expected to be). Must have been registered for at least 12 months. Can apply after meeting the 12-month registration requirement.
File a final VAT return covering the last period. Account for deemed supply on assets on hand (if input claimed). Pay any outstanding VAT. Settle any penalties. Return filed within normal deadline.
Stop charging VAT from effective date. Update invoices and systems. Keep records for 5 years after deregistration. Respond to any NBR queries on prior periods.
