Arshad Nadeem’s Olympic Triumph: No Tax on Prize Money, Says FBR
Pakistan’s Federal Bureau of Revenue (FBR) has dismissed rumors about taxing the prize money of javelin thrower Arshad Nadeem. Nadeem set a new Olympic record with a throw of 92.97m at the Paris Olympics, overcoming fierce competition from India’s Neeraj Chopra.
Following his victory, Punjab Chief Minister Maryam Nawaz announced Rs 100 million for Nadeem, Karachi Mayor Barrister Murtaza Wahab announced PKR 50 million, and Sindh Governor Kamran Tessori announced PKR 2 million.
Rumors surfaced on social media that Nadeem would have to pay tax on his prize money. However, FBR spokesperson Bakhtiar Muhammad clarified that these rumors are baseless. He stated, “No tax will be charged on the prize money received by him,” adding that neither withholding nor income tax is applicable to his prize money.
Arshad Nadeem received a hero’s welcome upon his return to Lahore’s Allama Iqbal International Airport, where his family and top officials, including provincial and federal ministers, greeted him.
Doubts Revealed
Arshad Nadeem -: Arshad Nadeem is a sportsman from Pakistan who competes in javelin throw. He recently set a new record at the Olympics.
Olympic -: The Olympics is a big sports event where athletes from all over the world compete in different sports. It happens every four years.
FBR -: FBR stands for Federal Bureau of Revenue. It is a government department in Pakistan that collects taxes.
Prize Money -: Prize money is the cash reward given to someone for winning a competition or achieving something special.
Punjab Chief Minister -: The Punjab Chief Minister is the head of the government in the Punjab province of Pakistan. Maryam Nawaz is the current Chief Minister.
Karachi Mayor -: The Karachi Mayor is the head of the local government in Karachi, a big city in Pakistan. Barrister Murtaza Wahab is the current Mayor.
Sindh Governor -: The Sindh Governor is the head of the Sindh province in Pakistan. Kamran Tessori is the current Governor.
Javelin Throw -: Javelin throw is a sport where athletes throw a long spear called a javelin as far as they can.
92.97m -: 92.97m means 92.97 meters. It is the distance Arshad Nadeem threw the javelin to set a new record.
Rumors -: Rumors are stories or statements that might not be true and are spread by people talking.
Baseless -: Baseless means something that has no foundation or truth. It means the rumors about taxing the prize money are not true.