Closing or Selling a Business

If you close or sell your business, you have to apply for cancellation of your VAT registration within 7 days of the date on which you ceased operations. You must complete the Change of Registration Details or Cancellation of Registration form and return it to IRD. However, your cancellation will only take effect after the Comptroller of the Inland Revenue Department is satisfied that you:

  1. Are not carrying on a taxable activity; or
  2. Was not required or entitled to apply for registration; and
    1. has no fixed place of abode or business;
    2. has not kept proper accounting records relating to any business activity carried on by that person;
    3. has not submitted regular and reliable tax returns as required by section 46;or
    4. has not complied with his or her obligations under the laws relating to tax, including any laws relating to customs;
  3. Was required to register under section 12.(4) or (6) and ceases to satisfy the provisions of section 12 relating to the registration requirements;

Go to form: Change of Registration Details and Cancellation of Registration

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