In the ever-changing business environment of the United Arab Emirates (UAE), enterprises could encounter circumstances that call for a change in their legal structure or the termination of their activities. Under such circumstances, completing the Corporate Tax Deregistration process becomes necessary. This calculated action guarantees adherence to the guidelines established by the Federal Tax Authority (FTA) in the United Arab Emirates while simultaneously relieving companies of the corporate tax liability.


The Deregistration Process with BMS Auditing

Corporate tax deregistration is a smooth process that BMS Auditing, a top financial services provider in the UAE, specializes in making easier. The FTA started the journey with EmaraTax, an easy-to-use web platform. An outline of the steps BMS Auditing takes to manage the complexities of the Corporate Tax Deregistration procedure may be found here:

  1. Log into EmaraTax

Customers can use their UAE Pass or login credentials to gain secure access to the EmaraTax platform. An easy login process is ensured by the simplified UI. The portal provides a handy 'Forgot Password' tool enabling a fast reset for users who might have forgotten their password.


  1. Go to the Corporate Tax Tile

After logging in, clients of BMS Auditing can click the 'Actions' button under the Corporate Tax tile on the Taxable Person Dashboard to launch the Corporate Tax Deregistration application.


  1. Complete the application for de-registration.

The application is divided up into sections, with a progress bar for each phase. The date of the business closure, the reasons for the closure, and any supporting documentation are among the crucial facts that clients are guided to enter. Information about the buyer or transferee is also supplied, if applicable.


  1. Check and submit

The significance of application correctness is emphasized by BMS Auditing. Before submitting the application, clients are urged to carefully review all of the information they have supplied. Following submission, the FTA conducts a comprehensive examination and may, if necessary, seek further information.


  1. Confirmation of De-registration 

Clients who submit an application are given a reference number upon approval. The De-Registration application's pre-approval is communicated by the FTA. The EmaraTax portal may occasionally produce a final tax return, which clients may be obliged to file.


When to Submit a Corporate Tax Deregistration Application

When submitting a corporate tax deregistration request, timing is crucial. BMS Auditing makes sure that customers follow the FTA's set timelines:

  • Natural individuals have three months from the date of the business's closure to file.
  • Legal entities have three months from the date of their dissolution, liquidation, or other reason to file a complaint.

Reasons for Deregistration of Corporate Taxes

BMS Auditing is aware of a number of situations that could lead companies to think about Corporate Tax Deregistration:

  • Business closure: Whether as a result of insolvency, bankruptcy, or a deliberate choice to cease operations.
  • Modification of Legal Structure: Mergers, acquisitions, or conversions to other company forms need a review of tax liabilities.
  • Transfer of Ownership: When an enterprise faces a change in ownership, the new owner may become accountable for its tax liabilities.
  • Other Specified Reasons: Businesses may experience special situations that result in deregistration.

The effects of Corporate Tax Deregistration

The following benefits are enjoyed by BMS Auditing clients following a successful corporate tax deregistration:

  • Cost Savings: There are large financial savings when corporate tax obligations are terminated.
  • Simplified Compliance: By eliminating the need for deregistered businesses to file corporate tax returns, compliance requirements are made simpler.
  • Limitations: Businesses should be mindful of any restrictions on specific operations and access to government subsidies while taking advantage of the perks.
  • Consultation with Experts: In order to manage complexity, ensure adherence to protocols, and be aware of any ramifications, BMS Auditing advises consulting with tax professionals.

Why Choose BMS Auditing for Corporate Tax Deregistration?

The complexities of Corporate Tax Deregistration require precision and experience to navigate. BMS Auditing is a dependable partner for the following:

  • Deep Understanding: BMS Auditing is well knowledgeable about deregistration procedures and company tax laws.
  • Outstanding Service: Clients gain from a group of committed experts who are committed to offering outstanding service and steadfast support.
  • Simplified Procedure: BMS Auditing guarantees a smooth deregistration procedure so that customers can concentrate on the growth of their companies.

To conclude, Corporate Tax Deregistration in the UAE is a strategic decision that needs serious thought and professional advice. Businesses can confidently manage this process and ensure compliance while laying the groundwork for future success with BMS Auditing.

For a simplified Corporate Tax Deregistration service in the UAE, get in touch with BMS Auditing right now.

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