The Federal Board of Revenue (FBR) has initiated calculating taxes on the prize money and gifts awarded to Olympic gold medalist Arshad Nadeem, who recently brought honour to Pakistan by clinching the country’s first Olympic gold in 40 years.
Arshad Nadeem‘s historic achievement has been met with various monetary rewards and gifts from numerous individuals and organizations, aiming to celebrate his significant contribution to elevating Pakistan’s global sports profile.
Nadeem has received around PKR 200 million in prize money, apartments, and cars. Additionally, the World Athletics Federation has contributed PKR 14 million to his rewards, all of which are subject to taxation by the FBR.
The FBR’s applicable tax rates are 15% for tax filers and 30% for non-filers. This means Arshad Nadeem could owe approximately PKR 30 million in taxes if he is a filer and around PKR 60 million if he is a non-filer.
The FBR’s move has sparked significant debate and dissatisfaction on social media. Many users have expressed frustration, pointing out Nadeem’s lack of governmental support throughout his athletic journey, only for the authorities to impose taxes on his globally recognized achievements and rewards now.
