When Can VAT Payer Registration Be Cancelled: Main Grounds and Procedures

• VAT payer registration can be canceled if the entity no longer meets the requirements, ceases activity, or switches to a simplified tax system.
• Cancellation occurs if taxable goods/services turnover is less than 1 million UAH in the last 12 months and an application is submitted.
• Registration is annulled if the business is liquidated, a liquidation or distribution balance is approved, or the payer switches to a simplified tax system without VAT.
• Cancellation also happens if VAT declarations are not submitted or are empty for 12 months, by court decision, upon the death or incapacity of an individual, or if the registration basis contract ends.
• In cases of business cessation or switching to a single tax system without VAT, cancellation is automatic.

Source: news.dtkt.ua

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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