Article 13 Capital gains

Gains derived by a resident of a Contracting State from the alienation of immovable property referred to in Article 6 and situated in the other Contracting State may be taxed in that other State.

Gains from the alienation of movable property forming part of the business property of a permanent establishment which an enterprise of a Contracting State has in the other Contracting State or of movable property pertaining to a fixed base available to a resident of a Contracting State in the other Contracting State for the purpose of performing independent personal services, including such gains from the alienation of such a permanent establishment (alone or with the whole enterprise) or of such fixed base, may be taxed in that other State.

Gains derived by an enterprise of a Contracting State from the alienation of ships or aircraft operated in international traffic or movable property pertaining to the operation of such ships or aircraft, shall be taxable only in that State.

Gains derived by a resident of a Contracting State from the alienation of shares in a company deriving more than 90 per cent of their value, directly or indirectly, from immovable property situated in the other Contracting State (other than shares listed on a stock exchange of either Contracting State) may be taxed in that other State provided that the resident owns, directly or indirectly, a minimum of 5 per cent of the issued shares.

Gains from the alienation of any property other than that referred to in paragraphs 1, 2, 3 and 4 shall be taxable only in the Contracting State of which the alienator is a resident.

Notwithstanding the provisions of paragraph 5, the Netherlands may, in accordance with its own laws, including the interpretation of the term ‘alienation’, levy tax on gains derived by an individual who is a resident of Ghana from the alienation of shares in, ‘jouissance’ rights or debt-claims on a company whose capital is divided into shares and which, under the laws of the Netherlands, is a resident of the Netherlands, and from the alienation of part of the rights attached to the said shares, ‘jouissance’ rights or debt-claims, if that individual — either alone or with his or her spouse — or one of their relations by blood or marriage in the direct line directly or indirectly holds at least 5 per cent of the issued capital of a particular class of shares in that company. This provision shall apply only if the individual who derives the gains has been a resident of the Netherlands in the course of the last ten years preceding the year in which the gains are derived and provided that, at the time he became a resident of Ghana, the above-mentioned conditions regarding share ownership in the said company were satisfied.

In cases where, under the domestic laws of the Netherlands, an assessment has been issued to the individual in respect of the alienation of the aforesaid shares deemed to have taken place at the time of his emigration from the Netherlands, the above shall apply only insofar as part of the assessment is still outstanding.

Notwithstanding the provisions of paragraph 5, gains from the alienation of any property within the meaning of paragraph 5 situated in Ghana derived by an individual who has been a resident of Ghana and who has become a resident of the Netherlands, may be taxed in Ghana if the alienation of the property occurs within any period of five years next following the date on which the individual ceased to be a resident of Ghana.