Zomato disputes $94.8m tax bill

India’s tax department has instructed Zomato, a food delivery platform, to pay 8.04 billion rupees (US$94.8 million) in taxes and penalties.

The order covers 4.02 billion rupees (US$48.24 million) in unpaid taxes and an equivalent amount as a penalty for the period from 2019 to 2022.

Zomato plans to contest the tax order.

The company claims it has strong backing from external legal and tax experts for its defense.

The demanded sum exceeds four times its net profit recorded in the July-September quarter of 2024.

Recent Zomato developments

Timeline
29-Nov-2024 💰 Zomato secures $1b in first fundraise since 2021 Zomato raises $1B via qualified institutional placement Change in status allows Blinkit to adopt new model
21-Nov-2024 💼 Zomato faces backlash over job ad that requires a fee Zomato CEO posts chief of staff job ad Role requires 2 million rupee fee, future salary promised
12-Nov-2024 🧑‍⚖️ Zomato, Swiggy deny competition law breach amid probe Zomato and Swiggy confirm legal compliance Investigations focus on restaurant listings and pricing
11-Nov-2024 ⚖️ Zomato, Swiggy violate Indian competition laws CCI finds Zomato, Swiggy breaching competition laws Zomato shares drop 3% post-report; no comments made
23-Oct-2024 📈 Zomato’s Q2 profit surges 389%

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