Tax will be levied on the amounts announced by the government and other political and social figures for Arshad Nadeem in celebration of winning the gold medal: FBR sources.
Lahore (Urdu Point latest newspaper. August 10, 2024) Arshad Nadeem, who won the gold medal in the javelin throw competition of the Paris Olympics, also came under the radar of the Federal Board of Revenue (FBR). Olympian Arshad Nadeem was showered with prizes for winning the gold medal in the Olympics, when the FBR also came into action.
Arshad Nadeem's return will be at 1 pm today, while the rain of prizes had already started before his arrival. Punjab Chief Minister Maryam Nawaz has announced Rs 10 crore for Arshad Nadeem, while the Sindh government will give Rs 5 to 7 crore, Mayor Sukkur will give a gold crown and Governor Sindh will give Rs 10 lakh to the athlete.
Apart from this, K Electric has announced Rs 20 lakh for Arshad Nadeem, singer Ali Zafar, cricketer Ahmed Shehzad while private bank UBL has also announced Rs 50 lakh for Javelin Tharoor.
On the other hand, the World Athletics Federation will give a prize of 50 thousand dollars to the gold medalist. FBR sources on the condition of anonymity told 'Express News' that the amount announced by the government and other political and social figures for Arshad Nadeem in the joy of winning the gold medal will be taxed. First it will be checked whether Arshad Nadeem is registered as a filer in the database or not, after that the tax collection will be estimated. FBR sources say that if Javelin Tharoor is a filer, he will be taxed at 15% of the prize money and if he is a non-filer, Arshad Nadeem will be taxed at 30% of the total prize money.
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