FBR Confirms: Arshad Nadeem’s Prize Money Exempt from Taxation

ISLAMABAD: The Federal Board of Revenue (FBR) announced that it will not impose Taxes on the prize money awarded to the only Pakistan’s Paris Olympic 2024 Gold Medalist, Arshad Nadeem.

“Arshad Nadeem is a national hero, and we will extend every possible cooperation to him,” the FBR spokesperson said.

“Arshad Nadeem is a national hero, and we will extend every possible cooperation to him. The government is committed to recognizing and rewarding his outstanding performance without any unnecessary tax burdens,” stated an FBR spokesperson. This declaration not only celebrates Nadeem’s exceptional achievements but also sets a precedent for supporting athletes who bring glory to the nation.

Arshad Nadeem etched his name in history at the 2024 Paris Olympics by shattering the Olympic record with an astounding javelin throw of 92.97 meters. This monumental feat not only secured him the gold medal but also elevated Pakistan’s stature in the international athletic community.

In recognition of his unparalleled performance, Nadeem is poised to receive an array of rewards. Reports indicate that he will be awarded approximately Rs200 million (around $900,000) in prize money. Beyond monetary accolades, the celebrated athlete is also set to receive luxurious apartments, a gold crown, and vehicles, symbolizing the nation’s appreciation for his dedication and hard work.

Adding to these honors, the World Athletics Federation has bestowed upon Nadeem a remarkable $14 million (Rs3.2 billion) for his historic accomplishment. Such a substantial award from an international body further cements Nadeem’s status as a global sports icon.

Join INCPak Whatsapp Channel to stay updated!