FBR Dismisses Tax Rumours on Arshad Nadeem's Olympic Prize Money

Pakistan's FBR has dismissed rumours of taxing the prize money awarded to javelin thrower Arshad Nadeem following his record-breaking performance at the Paris Olympics. FBR spokesperson confirmed that no tax will be imposed on his winnings, emphasizing that Olympic prize money is exempt from taxation.

Pakistan's Federal Bureau of Revenue (FBR) has debunked rumours suggesting taxation on the prize money awarded to ace javelin thrower Arshad Nadeem. The speculation emerged after Nadeem's historic triumph at the Paris Olympics, where he broke the Olympic record with a massive throw of 92.97 meters in the men's javelin event final.

Competing against his idol, India's Neeraj Chopra, Nadeem secured the gold medal, triggering high-profile announcements of prize money. Punjab Chief Minister Maryam Nawaz pledged Rs 100 million, while Karachi Mayor Barrister Murtaza Wahab announced PKR 50 million. Additionally, Sindh Governor Kamran Tessori promised PKR 2 million.

Following these announcements, concerns about taxation on Nadeem's winnings circulated on social media. However, FBR spokesperson Bakhtiar Muhammad clarified that these claims were unfounded. 'No tax will be charged on the prize money received by him,' he stated, citing that neither withholding nor income tax applies to Olympic prize money. The FBR emphasized that Nadeem is a national hero and assured full support.

(With inputs from agencies.)