Am I Even Allowed to Quit the System?

[jayicod]

Hi everyone,

I was having a heated debate with my business partner over lunch today about our tax status. He thinks we can just stop filing, but I am convinced we need to go through an official channel to be removed from the registry.

We had a very slow year, and our income has dropped significantly below the R1 million mark. I want to settle this argument with some cold, hard facts about the law.

Can anyone clarify the rules regarding VAT deregistration eligibility South Africa? We want to make sure we are acting legally.

Thanks in advance.

[Author]

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