Commentary

VAT deregistration

10 Czech Republic
10 Czech Republic | Commentary

VAT deregistration

10 Czech Republic | Commentary

VAT deregistration

There are a number of reasons why a business may wish or be obliged to cancel its VAT registration. The main reasons for doing so are as follows:

  1.  

    •     Turnover falls below the VAT deregistration threshold (see 10.1).

  2.  

    A business in this situation can choose whether to continue with its VAT registration or cancel its VAT number.

  3.  

    •     Change of legal status.

  4.  

    This can happen, for example, where:

  5.  
    1.  

      –     a sole trader takes on a partner;

    2.  

      –     a sole trader or partnership decides to form a company; or

    3.  

      –     one of the partners

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial