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ISLAMABAD: The Federal Board of Revenue (FBR) has denied rumours that it is preparing to impose tax on the prize money claimed by Arshad Nadeem after he won the gold medal in the men’s javelin event at the ongoing Paris Olympics 2024.
In a statement issued on Saturday, FBR spokesman Bakhtiar Muhammad noted that athletes’ prize money is not subject to withholding tax or income tax.
“The rumours about taxation of national hero (Arshad) Nadeem’s prize money are baseless. The prize money he has received will not be taxed,” he said, denying all such rumours.
The official clarification came after rumours circulated on social media that the Olympic gold medalist had to pay taxes on her prize money.
Just hours after Nadeem won the gold medal at the 2024 Paris Olympics, breaking the Olympic record in men’s javelin, prominent figures announced that they would offer him a generous reward.
Punjab Chief Minister Maryam Nawaz announced a Rs 100 million prize for Nadeem, while Karachi Mayor Lawyer Murtaza Wahab announced a Rs 50 million prize for the athlete. The 27-year-old athlete will also receive Rs 2 million from Sindh Governor Kamran Tessori.
The Federal Tax Service issued a statement refuting “misleading and disturbing rumours” circulating in the electronic media and social media that Nadeem’s winnings would be taxed, and stressed that the government and the tax agency are determined to exempt Nadeem’s income from tax until he files his tax return in September 2025.
“The income tax rules do not mention taxation of Olympic prize money.
The FBR official noted: “Nadeem is a national hero and we will extend all possible cooperation to him… After clarification, such baseless rumours (of taxing him) should be put to rest.”
Gold medalist returns
The athlete, who ended Pakistan’s 40-year gold medal drought with a record-breaking 92.97m (a new world record), returned home on Saturday night to a national hero’s welcome.
Senior officials including provincial and federal ministers, the Olympic hero’s family and his legion of fans arrived at Lahore’s Allama Iqbal International Airport to greet Nadeem, who won his first Olympic medal in 32 years – the country’s last medal was in 1992 when the national hockey team won bronze at the Barcelona Olympics.
While interacting with journalists at the airport, the javelin thrower said he was “thankful to Allah” for his great achievement at the Paris 2024 Olympics. He also thanked the country for the respect and honour it has bestowed on him.
“There is a long journey behind this success. I worked hard day and night to get this medal,” said the 27-year-old.
His success has made the whole country rejoice and the current government has praised and recognized him for making the country proud on the world stage.
This came a day after President Asif Ali Zardari directed that javelin star Arshad Nadeem be awarded the Hilal Imtiaz, the country’s second-highest civilian award.
Meanwhile, Information Minister Ataullah Tallah also announced the release of special stamps to commemorate the Paris Olympic gold medalists.
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