ISLAMABAD: The Federal Bureau of Revenue (FBR) has rebuffed rumours claiming that it was gearing up to tax the prize money announced for Arshad Nadeem after he bagged the gold medal in the men's javelin throw competition in the ongoing Paris Olympics 2024.
In a statement issued on Saturday, FBR spokesperson Bakhtiar Muhammad noted that neither withholding nor income tax is applicable to the athlete's prize money.
"Rumours of taxing national hero [Arshad] Nadeem's prize money are baseless. No tax will be charged on the prize money received by him," he said, denying all such rumours.
The clarification comes in the wake of rumours circulating on social media, claiming that the Olympic gold medallist will have to pay tax on the prizes received following his win.
Just hours after Nadeem won the gold medal in the Paris 2024 Olympics, breaking the men's javelin Olympic record, prominent personalities announced that they would reward him generously.
Punjab Chief Minister Maryam Nawaz announced Rs100 million for Nadeem, while Karachi Mayor Barrister Murtaza Wahab announced a prize money of Rs50 million for the athlete. The 27-year-old is also set to receive Rs2 million from Sindh Governor Kamran Tessori.
Rebuffing the "misleading and disturbing rumours" in the electronic and social media suggesting that Nadeem's prize money will be taxed, the statement issued by the FBR stresses that the government and the tax body are determined to exempt his income from taxes before he files his return in September, 2025.
"Income tax rules do not mention tax on prize money received in Olympic games.
"Nadeem is a national hero and all possible cooperation will be extended to him [....] After this clarification, such baseless rumours [of taxing him] should be put to rest," the FBR official noted.
The athlete, who finally ended Pakistan’s 40-year-long gold medal drought with a record-breaking 92.97 metres throw — a new world record — was bestowed with a national hero's welcome upon his return to the country late Saturday night.
Top officials including the provincial and federal ministers, the Olympic hero’s family and his fans in large numbers arrived at Lahore’s Allama Iqbal International Airport to receive Nadeem who has brought home the first Olympic medal in 32 years — the country won its last medal in 1992 when the national hockey team clinched bronze at the Barcelona Olympics.
During his interaction with journalists at the airport, the javelin thrower said he was "grateful to Allah" for his great achievement during the Paris Olympics 2024. He also thanked the nation 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 the medal," said the 27-year-old.
His success has left the country jubilant with the incumbent government heaping praise and recognition for making the country proud on the global stage.
A day earlier, President Asif Ali Zardari directed that javelin star Arshad Nadeem be awarded the Hilal-e-Imtiaz — the country's second-highest civilian award.
Meanwhile, Minister for Information Attaullah Tarar also announced the issuance of a special postage stamp to honour the Paris Olympics' gold medallist.
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