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No, usually their countries pay them for winning their medals.

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โˆ™ 2012-08-05 05:58:18
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Q: Do Olympic medal winners have to pay for their medals?
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Related questions

Do Olympic medal winners pay taxes on their medals?

Yes


Do Olympic gold medal winners pay taxes on their medals?

Here in Britain the answer is no


Does the IOC pay Olympic medal winners money?

No, the IOC does not pay medal winners.


How much money does an athelete get for a gold medal?

Olympic athletes do not get paid for the medals they win. They do not receive pay for participating. U.S. medalists receive cash prizes from the U.S. Olympic committee. Gold medal winners receive $25,000, silver medal winners receive $15,000, and bronze medal winners receive $10,000.


How much Do olympic medal winners pay taxes for medals?

It differs from country to country, but a Gold Medal in the USA gets a $25,000 payment, and the average tax on that is about $9,000.


Do the olympic gold medal winners have to pay taxes on the medal?

Yeah, $9,000.


Does India pay olympic medal winners?

Yes, India pays olampic medal Winner's.


Do olympic athletes have to pay taxes on their medals?

yes, on every medal they win they have to pay taxes on it.


How much does great Britain pay Olympic gold medal winners?

Nothing


How much dose us pay Olympic gold medal winners?

never


How much tax do Olympic winners pay on the medals gold silver and bronze?

nothing


How much do Olympic gold medal winners get paid?

Payment for winning Olympic medals varies by country. Some do not pay any money at all. The United States Olympic Committee pays its medal winners $25,000 to gold medal winners, $15,000 to those who take home a silver and $10,000 for a bronze. Some of the richer U.S. sport federations give additional prize money to their winners as well. There are many appearances and endorsement deals that generally follow a gold medal winner. See related links for more information.


Do gold medal winners pay taxes on their winning?

Unfortuneatly, the olympians from the USA do have to pay taxes on the winnings from the medals awarded.


Do they have to pay taxes on their olympic medals?

Only U.S. Olympic athletes are liable to pay income tax on medals earned and prizes received at the London games. Under U.S. tax law, they must add the value of their Olympic medals and prizes to their taxable income. At today's commodity prices, the value of a gold medal is about $675. A silver medal is worth about $385 while a bronze medal is worth under $5. There are also prizes that accompany each medal: $25,000 for gold, $15,000 for silver, and $10,000 for bronze.


Do you have to pay taxes if you win an Olympic medal?

Yes, Olympians must pay taxes on their medals as of now. However, they also receive money for winning medals too. Currently Congress is debating whether Olympians should have to pay taxes.


Do gold medal winners pay taxes?

Gold medal winners pay the same taxes every other citizen pays.


Do olympic winners have to pay tax on medal?

Only in the United States of America. Currently there is a law suit pending that will attempt to change that law.


Do US athletes receive monetary rewards for winning Olympic medals?

Yes, the US Olympic Committee gives cash awards of $25,000, $15,000, and $10,000 to winners of gold, silver, and bronze medals, respectively. Athletes, as of now, still have to pay taxes on their winnings.


What does India pay for Olympic medals?

money


Who pay for the olympic americans medals?

The host city is responsible for providing all the medals.


How much does Jamaica pay gold medal winners?

50p


Do US Olympic medalist pay taxes on medals?

yes


How much money does the US give to the gold medals winners from the United States?

The US does not pay athletes for winning medals.


Does the International Olympic Committee pay Gold Medal winners?

No, they do not. However, the national committees for most countries will give athletes that win a medal an honorarium. The US awards $25k for gold, $15k for silver and $10k for bronze. Great Britain does not give and award. In some cases other organizations will award winners as well, I understand one of the US groups will pay one of the wrestlers a 6 figure bonus.


Has anyone ever sold an olympic medal?

Yes, In 1934 an Olympian from Great Britain sold his Olympic Gold Medal to pay off his home.