Article 22 establishes the condition for voluntary tax deregistration. A person or entity registered for tax purposes may formally apply to the designated Tax Authority to have their registration cancelled. Eligibility for such an application is contingent upon a specific financial criterion: the total value of the registrant's taxable supplies, assessed over the immediately preceding 12-month period, must be lower than the legally defined Mandatory Registration Threshold. This provision provides a clear mechanism for businesses whose economic activity has decreased to a level below the registration requirement to exit the tax system and be relieved of associated compliance duties.