Islamabad, August 11, 2024: The Federal Board of Revenue (FBR) has decisively quashed rumors swirling on social media about the alleged taxation of the prize money awarded to Arshad Nadeem, Pakistan’s golden athlete and the gold medalist at the Paris Olympics 2024.
These rumors, which gained traction online, have been dismissed by the FBR as entirely baseless and misleading.
Reports had surfaced suggesting that the FBR was preparing to levy taxes on the prize money received by Arshad Nadeem following his historic win. However, the FBR has categorically denied these claims, stressing that such misinformation is both “misleading and disturbing” and does not reflect the government’s stance.
In an official statement, the FBR expressed profound respect and admiration for Arshad Nadeem, whose remarkable achievement has brought immense pride to Pakistan. His gold medal in the men’s javelin at the Paris Olympics marks a historic moment, ending a 40-year drought for Pakistan at the Games. The FBR underscored that Arshad Nadeem is not just an athlete but a national hero who has elevated Pakistan’s image on the global stage.
“It is clarified at the outset that Arshad Nadeem is our National Hero who has not only elevated Pakistan’s image worldwide but has brought unparalleled joy to the entire Pakistani nation by winning a Gold Medal after 40 years in the Olympics,” the FBR stated, dismissing any speculation about taxing his prize money.
Moreover, the FBR confirmed that there is no withholding tax on the prize money awarded to Arshad Nadeem. The government, in conjunction with the FBR, is committed to ensuring that his income remains exempt from taxation long before he is required to file his tax return in September 2025. This clear and firm stance is intended to put all rumors to rest and reassure the public and media alike.
The FBR’s clarification has been met with relief and approval from many, particularly those who have been celebrating Arshad Nadeem’s groundbreaking victory. As the first Pakistani athlete in decades to secure an Olympic gold medal, Nadeem has become a symbol of national pride. The government’s prompt action to debunk any negative speculation about his prize money further highlights its dedication to supporting and honoring the nation’s sports heroes.
Arshad Nadeem’s Olympic triumph, marked by a stunning 92.97-meter throw in the men’s javelin final, not only shattered records but also ended Pakistan’s 32-year wait for Olympic success. His victory has set a new benchmark for Pakistani athletes and reinforced the nation’s commitment to nurturing and celebrating its sporting talent.
