Madam Speaker, I thank the hon. Member for this question. In fact, a series of tax exemptions has been granted to the promoters under the Smart City Scheme since its introduction on 18 June 2015. The main ones include – (a) exemption from VAT on buildings and infrastructure; (b) 8-year income tax holiday on income derived from real estate activities within the Smart City; (c) exemption from Customs Duty on import of machinery and materials for construction of buildings; (d) exemption from Registration Duty and Land Transfer Tax on the transfer of land into a Smart City Company; (e) exemption from Morcellement Fee, and (f) exemption from land conversion tax for developments, other than residential, on land in the Smart City. The House will recall, Madam Speaker, in my reply to PQ B/130 on 18 March of this year, I informed the House that the total amount of exemptions granted since the introduction of the Smart City Scheme is around Rs6.61 billion. Madam Speaker, in the context of the forthcoming budget exercise and taking into account the state of the economy, the Ministry of Finance is carrying out an analysis of

26 various schemes to determine their effectiveness and their impact on public finances. The waiving off of any tax exemptions granted to companies under this scheme would also be closely examined.

Thank you! Yes, next question, hon. First Member for Savanne and Black River! RODRIGUES – POINTE COTON RESORT HOTEL CO. LTD – RENOVATION