ISLAMABAD (National Times) The Federal Board of Revenue has rubbished the rumours claiming that it is getting ready to tax the prize money announced for Olympian gold medalist Arshad Nadeem.

“There are some misleading and disturbing rumours in the electronic and social media that FBR is getting ready to tax the Prize Money received or to be received by Our National hero Arshad Nadeem. It is simply a baseless rumour,” FBR said in a press release.

“It is clarified at the outset that Arshad Nadeem is “our National Hero who has not only elevated Pakistan’s image in the whole world but has made the whole Pakistani nation overjoyed by winning a Gold Medal after 40 years in the Olympics. It is clarified that there is no withholding tax on his prizes and the Government of Pakistan and FBR are determined to make his income exempt much before he files his return in September, 2025.”

Pakistan’s Arshad Nadeem shattered the Olympic record with a humongous 92.97m throw in Javelin final to win the Gold medal at the Paris Olympics 2024 on Thursday.

Arshad Nadeem now becomes the first individual Olympic gold medallist from Pakistan. Arshad Nadeem broke the previous Olympic record of 90.57 – set in 2008 Beijing Olympics by Norway’s Andreas Thorkildsen.

Following his achievements, provincial governments and individuals announced cash reward for the star javelin thrower.