Yomi Olugbenro’s Blog

One of the fundamental changes introduced by the Personal Income Tax (Amendment) Act 2011 (“PITAM”) is the introduction of a new Consolidated Relief Allowance (CRA) which replaced the old Personal Relief. We will deal with the controversy around the computation of CRA in this edition and discuss...

Taking yet another step toward its goal of addressing off-shore account reporting, in 2010 the Obama Administration enacted the Foreign Account Tax Compliance Act (FATCA). FATCA, a new chapter in the U.S. Tax Code – Chapter 4, is part of Hiring Incentives to Restore Employment  (HIRE) Act of 2010...