ISLAMABAD: The Federal Board of Revenue (FBR) has officially confirmed that the prize money awarded to Olympic gold medalist Arshad Nadeem will be exempt from withholding tax, putting to rest any speculation on the matter.
In an official statement, the FBR emphasized that Nadeem’s historic achievement, which has brought immense pride to the nation, warrants special recognition. Therefore, his winnings will not be subject to taxation.
“Mr. Arshad Nadeem is a national hero who has elevated Pakistan’s image globally and brought immense joy to the nation by securing a Gold Medal after 40 years in the Olympics,” the statement read.
The FBR further highlighted that there is no withholding tax on Nadeem’s prizes, and both the Government of Pakistan and the FBR are committed to ensuring his income remains tax-exempt well before his tax filing deadline in September 2025.
The statement concluded by dismissing all related rumors, urging the public to disregard any misinformation.
