Foodpanda’s statement on VAT evasion allegations

Foodpanda has given a statement regarding the recent raid of the VAT Intelligence Directorate at it’s Gulshan office and the allegation of VAT evasion.

The full statement from Foodpanda is published below:

Ambareen Reza, Co-founder and MD, Foodpanda Bangladesh said – “Bangladesh VAT Authorities conducted a drive at our office premises in Gulshan on 15th October, met with full cooperation from the Foodpanda team. We are now seeing allegations of VAT non-compliance in the media on October 28th. To date, we have not yet received any official communication from the VAT authority of Bangladesh.   

If these alleged discrepancies are correctly identified according to the law, we have full intention of correcting these discrepancies at the earliest and are working closely with the VAT authorities to ensure everything is justly in place.

It is important to point out that Foodpanda has always been a fully compliant company, maintaining our VAT and taxes as an IT-enabled company under service code S-099.10, as per law.

We have every intention of being within the laws of Bangladesh and will be working side by side with the VAT authorities to proactively resolve any issues together.”

Earlier on yesterday, the VAT Intelligence Directorate, in a drive at the company’s Gulshan office found evidence that the popular food delivery service evaded Tk3.4 crore in Value Added Tax (VAT).

A VAT evasion case was filed against Foodpanda Bangladesh Limited by the directorate. 

The VAT directorate also discovered that in the last eight months, the company has hidden sales data of Tk11.93 crore from the government.