ISLAMABAD: The Federal Board of Revenue (FBR) will not charge any withholding tax on prize money received by national hero Arshad Nadeem.

The FBR Saturday clarified that 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 national hero Arshad Nadeem. It is simply a baseless rumour.

It is clarified at the outset that Arshad Nadeem is our national hero who not only elevated Pakistan’s image in the whole world but made the whole Pakistani nation overjoyed by winning a gold medal after 40 years in the Olympics.

It is further clarified that there is no withholding tax on his prizes and the government of Pakistan and the FBR are determined to make his income exempt much before he files his return in September, 2025.

With this clarification all such rumours must get to rest, the FBR added.

Copyright Business Recorder, 2024