1. Who is required to register for VAT in Dubai?

Any business with an annual taxable turnover exceeding AED 375,000 must register for VAT in Dubai. Businesses with a turnover above AED 187,500 can opt to register voluntarily.

2. What are the consequences of not registering for VAT?

Failing to register for VAT when required can lead to fines, penalties, and legal action. The FTA is stringent about VAT compliance, and businesses operating without proper registration may face severe penalties.

3. Is it possible to deregister from VAT?

Yes, businesses can apply for VAT deregistration if their taxable turnover falls below the required threshold or if they cease operations. The deregistration process requires submitting a request to the FTA and meeting specific criteria.