Article 63 - Deregistration

The Registrant shall apply to deregister from Tax in a manner prescribed by the Bureau, in any of the following cases:

1. The Revenue Test has not been met for five consecutive Fiscal Years, provided the Registrant has submitted a notification to the Bureau in accordance with Article 67 of these Regulations for each of the five Fiscal Years.

2. The Multinational Enterprise Group no longer has any Constituent Entities, Joint Ventures or Joint Venture Subsidiaries located in the Kingdom as a result of liquidation, dissolution or for any other reason.

3. The Group is no longer a Multinational Enterprise Group.

4. Any other circumstances resulting in the Registrant falling outside the scope of the Law.

The Registrant shall apply to deregister in a manner prescribed by the Bureau within 30 days from the date where any of the deregistration cases provided for under Paragraph A of this Article apply. For the purposes of Clause 1 of Paragraph A of this Article, the 30-day period shall start on the date the Registrant notified pursuant to Article 67 of these Regulations, the Bureau that they did not meet the Revenue Test for the fifth Fiscal Year.

When applying for deregistration, the Registrant shall provide the Bureau, at a minimum, with the reason for deregistration and relevant documents supporting the application. The Bureau may request the Registrant to provide any other documentation or materials it considers necessary to process the deregistration application. In all cases, the Bureau may not approve a deregistration application where the Registrant has any outstanding amounts or obligations to the Bureau.

Where the deregistration application is approved, the Bureau shall issue a deregistration notice which prescribes the date in which the deregistration takes effect. The issue of a deregistration notice shall not impact any obligations arising prior to the date of the deregistration including the obligations prescribed under Article 74 and Article 75 of these Regulations.

Where the Registrant does not submit a deregistration application, the Bureau may deregister that Registrant where any of the cases stipulated under Paragraph A this Article apply and issue a deregistration.