E-Levy: George Twum-Barimah-Adu, an independent presidential candidate running in the 2024 presidential contest, has revealed that he will substitute E-Sika for the Electronic Transaction Levy (E-Levy) to create automatic savings and pension every Ghanaian as they spend.
Charged to the transferor at the time of transfer, the 1% Electronic Transfer fee Act, 2022 (Act 1075) and Electronic Transfer Levy (Amendment) Act 2022 (ACT 1089) fee on electronic transactions.
Consequently, the Levy applies to any transfer from a bank account of a person or to or from a mobile money account.
Unlike the E-Levy, which takes money from the people and supplies it to the government, the E-Sika his government is bringing would credit the taxes on electronic spending to the individual’s account as savings and pension, told Blakk Rasta in an interview on the 3FM Urban Blend show on Friday, 11th October, 2024.
“With E-Levy, the government takes your money, and it goes into the government’s coffers, but with E-Sika, my government takes that same money, but it comes straight to you, the individual who spent that money. It relates to your Ghana Card; so, every day you are saving money as you spend it.
I will replace E-Levy with E-Sika, independent presidential candidate
The Independent Presidential Candidate claims that the money will be divided into three sections; one for pension that would be provided to the beneficiary as a lump sum upon reaching the pension age of 60 years.
Another section will be for welfare and paid to the beneficiary every twelve months; the other will go into housing so that everyone may have their own mortgage house.
Mr. Twum-Barimah-Adu further revealed that a ” tier two” fund manager will handle the deductions instead of the Social Security and National Insurance Trust (SSNIT).
“So for the first time, any Ghanaian whether you are a “aboboyaa driver,” coconut seller, head potter, or whatever would have pension as you are saving as you spend. I am thus delivering everyone common prosperity, he reiterated.
