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In this article, we argue that moving shares of a Ghanaian company to another company within a group does not qualify for a tax exemption. This transaction must be taxed. Why must Ghanaian companies pay taxes when there is a 50% change in their underlying ownership? Why do they lose their tax losses from the past? Why must they revalue their books whenever a new underlying owner comes on board? We answer all these questions in this article.

In this article, we argue that transferring shares of a Ghanaian company to another entity within the same corporate group does not qualify for a tax exemption. Consequently, this transaction must be taxed.

The High Court set the time of supply to be the date of the initial agreement. The court did not consider any of the time of supply rules in the VAT law. The contract date is irrelevant in determining when VAT is due. In this article, we review the statutory rules and point out what the court should have done.