The Finance Bill 2019 has also proposed amendment in section 145(assessment of persons about to leave Pakistan). Under the amendment, the Commissioner may freeze any domestic asset of the person, who is likely to leave Pakistan and may be involved in offshore tax evasion or such person is about to dispose of any such asset. Through the Finance Bill 2019, in section 216, after sub-section (6A), the following new sub-sections, shall be inserted, namely:-
"(6B) Nothing contained in sub-section (1) shall prevent the Board from publishing the names of offshore evaders, in the print and electronic media who have evaded offshore tax equal to or exceeding rupees two and half million.
(6C) Nothing contained in sub-section (1) shall prevent the Board from publishing the names of offshore tax enablers, in the print and electronic media who have enabled offshore tax evasion.", it added.
Under Finance Bill 2019, "offshore asset" in relation to a person, includes any movable or immovable asset held, any gain, profit, or income derived, or any expenditure incurred outside Pakistan.
The "offshore enabler" means a person who owns, possesses, controls, or is the beneficial owner of an offshore asset and does not declare, or under declares or provides inaccurate particulars of such asset to the Commissioners.
The "offshore evader" includes any person who, enables, assists, or advises any person to plan, design, arrange or manage a transaction or declaration relating to an offshore asset, which has resulted or may result in tax evasion, Finance Bill 2019 added.
According to the Finance Bill, 2019, "notwithstanding anything contained in any other law, for the time being in force, where on the basis of information received from any offshore jurisdiction, the Commissioner has reason to believe that such person who is likely to leave Pakistan may be involved in offshore tax evasion or such person is about to dispose of any such asset, the Commissioner may freeze any domestic asset of the person including any asset beneficially owned by the person for a period of 120 days or till the finalization of proceedings including but not limited to recovery proceedings under this Ordinance whichever is earlier".