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Cancellation of registration

When and how is the registration of a person cancelled;

Registration is cancelled in the following cases:

(i) Cancellation of registration due to decreasing business turnover:

Where any registered person notifies the VAT Commissioner that the value of taxable supplies in one year has fallen below 13.668,81 and applies for cancellation of his registration, then αν authorised VAT officer, if satisfied of this fact, shall cancel the registration with effect from the date of the notification or from any other later date as may be agreed between the VAT Commissioner and that person.
(ii) Cancellation of registration due to termination of taxable supplies or termination of the intention to make taxable supplies
When a registered person ceases to make taxable supplies and is not entitled to remain registered or ceases to have the intention to make taxable supplies, he has to notify the VAT Commissioner of that fact within 60 days of the date of the termination, by submitting an “Application for Cancellation of Registration” (Form VAT 204). Failing to comply, the person is liable to a levy of £50. If an authorised VAT officer is satisfied of the fact of the termination he shall cancel the registration with effect from the date that the person ceased to make taxable supplies or ceased to have the intention of making taxable supplies or from any other later date as may be agreed between the VAT officer and that person.

(iii) Retrospective cancellation of registration
When the VAT officer is satisfied that on the day when a registered person was neither entitled nor liable to be registered, the VAT officer can cancel the registration and the cancellation takes effect as from the above date.

Further information on Deregistration for the cases referred to in paragraphs (i) to (iii) above, may be found in information leaflet 4 “Deregistration.”

(iv) Deregistration in the case of Distance Sales

A person registered for making or intending to make distance sales in Cyprus, is liable to notify deregistration when he no longer makes or intends to make distance sales in Cyprus and he is not liable to register in Cyprus for nay other taxable transactions.

(v) Deregistration in the case of Acquisitions

A person registered for making or intending to make acquisitions in Cyprus, is liable to notify deregistration when he no longer makes or intends to make acquisitions in Cyprus.

Further information on Deregistration for the cases referred to in paragraphs (iv) and (v) above, may be found in information leaflet 3A “Acquisitions and Distance Sales.”




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