No tax will be imposed on the prize money awarded to Arshad Nadeem, says FBR spokesperson.
Moreover, income tax or withholding tax does not apply to the rewards given to Olympian Arshad Nadeem, according to the spokesperson.
There is no mention of tax on rewards earned in Olympic Games in the income tax laws, says FBR spokesperson.
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Arshad Nadeem is a national hero, and all possible support will be provided to him: FBR spokesperson.
In addition, under Section 156 of the Income Tax Ordinance, tax applies to prizes obtained through prize bonds or lotteries, the spokesperson added.
Furthermore, taxes are applicable to rewards earned in quiz competitions and sales promotions given by companies: FBR spokesperson.
