Okay. Thank you very much.
The industry is very worried about the impact of this part of the bill on business aircraft. The bill's intent is not to apply this luxury tax on these aircraft and yet, according to the almost incomprehensible 170 pages of the soon to be adopted bill on the new tax, they are. That's what we're being told.
There's the issue of the threshold and the activities of charter aircraft. When companies buy a business aircraft, and it is not in use, they can allow a charter aircraft company to use it, and there is a risk that the charter company will lease the aircraft for personal use. In cases like this, the aircraft manufacturer might be subject to the tax, even though it sold the aircraft to a company. In fact, if the aircraft is used for personal purposes for at least 10% of the time, the 20% tax could be applied.
In view of all this uncertainty, many clients have been cancelling their orders from builders of business aircraft. Most business helicopters and airplanes are exported, but the companies have to collect taxes. What they tell us is that they may have to wait a long time, sometimes up to six or even nine months, before the taxes are reimbursed. That generates significant cash flows, repercussions and uncertainty.
The factors I have mentioned are not measured directly in your note. But they should have been included in the Department of Finance impact study, should they not?