The Federal Board of Revenue has clarified that no taxes will be imposed on the prize money received by Olympian Arshad Nadeem.
“Arshad Nadeem is a national hero, and we will extend every possible cooperation to him,” the FBR spokesperson said.
The spokesperson’s comments were aimed at dispelling any misconceptions and ensure that the celebrated athlete’s achievements are duly recognised and rewarded without any unnecessary tax burdens.
Around Rs200 million of prize money, luxurious apartments, a gold crown, and vehicles have been announced for Nadeem for his remarkable performance in the mega event.
Separately, the World Athletics Federation has given 14 million to the javelin thrower.
In Pakistan, the tax rates are different for filers and non-filers. A section of the media had claimed that Nadeem would have to pay Rs30 million of tax if he is a filer, in case of being a non-filer he would have to pay a tax of Rs60 million.
Nadeem was decorated with an Olympic gold medal in Paris, France on Friday, a day after he secured the coveted medal and broke the Olympic record with a throw of 92.97 metres.
It was the first time after 40 years that Pakistan’s national anthem was played at the mega event. The country’s flag was in the centre and raised the highest among the other two flags.
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It is a major feat not just for Nadeem, but for the South Asian nation which won their last Olympic medal 32 years ago.
Before Nadeem’s remarkable victory, Pakistan had never won an individual gold medal at the Olympics.
All of Pakistan’s previous three gold medals came in field hockey, with their team winning gold in 1960, 1968 and 1984.
