The states receive exclusively the revenue of: The municipalities and/or districts receive exclusively the revenue of: Taxes on other beverages, dogs, and inns. Public law religious companies may also be spared the obligation to declare their use as it is exempt from property tax. Under the auspices of the OECD, 137 countries (as of 28 December 2021) have reached an agreement on a fair allocation of taxing rights and a global minimum effective tax at a uniform tax rate of 15%.

The fiscal administration (Finanzverwaltung), also known as tax administration: Steuerverwaltung) in Germany is the part of public administration which is responsible for the determination and collection of taxes. Only under certain conditions gains from private disposal may be taxed. Despite this, property taxes have so far remained the same. Existing depreciations e.g. Each municipality can determine the assessment rate and thus the actual amount of the tax itself. Moreover, the German taxation system warrants that an increase in taxable income never results in a decrease of the net income after taxation. In future, these federal states will apply their own models for calculating property tax. For exceeding amounts, a sliding scale is applied for taxable income up to. 6 Reasons for buying a property in Germany. WebGermany Payroll Taxes, Deductions and Social Security Rates 2023 1; Social Security Contributions Employee Rate Employer Rate Annual Cap East Germany Annual Cap West Germany; Health Insurance: 7.3%: 7.3%: Nursing Care Insurance: 1.175%: 1.175%: Pension Insurance: 9.35%: 9.35%: Unemployment Insurance: 1.5%: Revenue from current taxes Legislation has been finalised and taxpayers will be required to file a tax return between 1 July and 31 October 2022. Usually, this is the total tax due shown by the last assessment issued, as adjusted by any rate changes. For private investors, REIT distributions will be subject to final withholding tax at a rate of maximum 25 % (plus solidarity surcharge). There are also substantial exemption rates, amounting to 500,000 for transfers between married partners and 400,000 for transfers to own (step-)children. Tax is paid on one per cent of this basis as the taxable amount every month. For tax & legal advisory please refere to our cooperation partnerCounselhouse. Currently, the submission deadline for the tax returns is 31 October 2022. Anyone who owns property in Germany pays an annual property tax ( Grundsteuer) on its assessed value. Download the N26 app today for a 100% mobile banking experience. To assure that the proper and most beneficial legal form for the investment is selected, it is advised to seek the joint advice of a tax expert and corporate lawyer. Beyond, employers are also liable to deduct the contributions to the social security system at source. need to be included. The choice of the legal form depends on many different factors, including liability, taxation and accounting. The principal taxes applicable to real estate related businesses and companies in Germany are individual income or corporate income tax, trade tax and value added tax (VAT). To learn more about how we can add value to your business in Germany, please do nothesitate to contact us today! The investors hold either a direct interest as shareholders in the partnership or indirectly through a trustee. The effective tax rate is usually between 1.5% and 2.3%. The techniques are proprietary, involving some valuable closely held trade secrets. The basic exemption level is adjusted annually and currently amounts to 9, 984 euro (As of 2022). Weve put together this simple guide to walk you through it. It was spun off from the Federal Ministry of Finance in 2006.[3]. The municipalities receive a part of the income of the states. Retained earnings distributions of corporations, such as dividends, are subject to withholding tax at a uniform rate of 26.375% including surcharge tax. Some non-residents are liable in Germany if they have certain types of income there. Putting your children into childcare so you can go back to work is encouraged in Germany. The GmbH requires notarised Articles of Association and a registration in the Commercial Register by a notary. No solidarity surcharge is due on income tax up to 17,543 ( 35,086 for married couples). Capital gains from sale of shares of German or non-German corporations are effectively exempt from corporate income tax and trade tax up to 95%. Deductible input tax is the value-added tax which the entrepreneur has been charged by other business entities. Two to six months after you submit your application, youll receive a tax assessment (Bescheid) detailing any refunds you'll receive. The most important aspect of the GmbH is the shareholders meeting, where the shareholders meet and deliberate over the state of the company. If youre a freelancer or are self-employed, it will also tell you what tax pre-payments youll need to make throughout the coming year. The property tax is calculated as follows: real estate value This is because properties are taxed based on their value from the early 1960s (1930s in East Germany), violating the horizontal equity principle.

Tax revenue is distributed proportionately using a formula prescribed in the German Constitution. The tax liability of married couples who file jointly is assessed on half their total income, and the result from applying the tax tariff is multiplied by two afterwards. Int GmbH and are exclusively carried out under 6 Nr.3-4 of the German tax adviser direction code. RSM GmbH Wirtschaftsprfungsgesellschaft Steuerberatungsgesellschaft is a member of the RSM network. Capital gains from sale of rental property is taxed at the same rate as the income tax. This also applies to shares/interests of the shareholder/partners throughout the chain of participation. The rate for trade tax is between 7% and 17.5%, and its included in your quarterly pre-payments and submitted for the final tax report (Steuererklrung). lf an individual receives rental income in respect of a German-situs real estate, capital gains realised on the disposal of such German-situs real estate are only subject to personal income tax if the period between acquisition and disposal does not exceed ten years and the property was held as private property. the municipal multiplier. Individuals who are residents in Germany or have their normal place of abode there have full income tax liability. The corporate tax rate is 15%, and your municipal trade tax will fall between 14 and 17%, so your total taxation will add up to 30% to 33%. The employee lump sum is only available for income from non-self-employment. Were here to demystify all things banking-related. WebHow To Pay Your Taxes. In principle, the calculation of the property tax as of 1 January 2025 is based on a so-called federal model (Bundesmodell) which is based on the standard earnings value method (typisiertes Ertragswertverfahren) - for example, for residential rental properties and condominiums - and the standard substance value method (typisiertes Sachwertverfahren), for example, for commercial properties and part-ownership. annual property tax germany. When dividends are paid to an enterprise with full corporation tax liability, the recipient business is largely exempted from paying tax on these revenues.

the real property tax rate. Individual income tax in Germany is levied at progressive rates. The percentage of taxes ranges from seven to 30 percent on category one, eleven to 30 on category two and fifteen to 30 on category three. Combined with trade tax the total effective income tax rates in major cities typically ranges between 30% and 33%. class VI = workers receiving multiple wages from more than one employer, in order for wage tax to be withheld for the second and any additional employment contracts. The taxation at source for employment income will be carried out based in taxation classes based on the personal status. Any profits may be distributed or retained. However, with the system criticised in recent years as hopelessly outdated, the property tax is undergoing a major reform from 2022. WebGerman tax residents pay no income tax on that part of their income that does not exceed the non-taxable minimum of 9,744 per year for a single person and 18,816 per year for a married couple (for 2021). As part of the subsequent reform of Germanys property tax system, the value of all German real estate (including both residential and nonresidential property) will be revaluated as per 1 January 2022. All of the texts on this site serve as general guidance in matters of interest to the reader and are not a substitute for individual advice. This may take effect like a capital gains tax for resident persons e.g. Our long- term perspective allows for good strategy and decision-making. WebGermany taxes individuals on basis of a progressive tax rate currently ranging from 14 % to 42 %. Applies resident and non-resident capital gains tax rates and allowances in 2023 to produce a capital gains tax calculation you can print or email. Capital gains from the disposal of real property are in principle fully subject to tax. Corporations resident in Germany are generally deemed to carry on commercial trade or services, regardless of their actual activities. No liability is assumed for accuracy, completeness, or timeliness. What is subject to income tax Employment; Investments and savings; The network is administered by RSM International Limited, a company registered in England and Wales (company number 4040598) whose registered office is at 50 Cannon Street, London, EC4N 6JJ. And every tax return may be a bit of a challenge. Income tax for individuals in Germany is taxed at progressive rates. As an employee, you can choose to submit a paper copy. Taking any allowances into account, the local tax office (Finanzamt) calculates the trade earnings and then gives the applicable figure for a trade tax assessment to the local authority collecting the tax. Working in Germany means that various taxes are directly deducted from your gross salary before you receive your proper salary (net salary). In many cases, this may result in a tax refund. Tax number (Steuernummer): If you dont already have one, submit your first German tax declaration and your districts tax office (Finanzamt) will issue you a tax number. disposal of shares. WebThe tax returns may be filed electronically via the ELSTER online tax platform as from 1 July 2022. Corporation tax is charged first and foremost on corporate enterprises, in particular public and private limited companies, as well as other corporations such as e.g. For individuals with private owned property only individual income tax is applicable. The Abgeltungsteuer replaces the earlier half revenue procedure[de] that had been in effect in Germany since 2001. Taxation classes (tax groups, Lohnsteuerklasse aka Steuerklassen). The tax rates depend on the amount and on the relationship between donor and recipient. Karlsbaderstr.

Trade tax is based on taxable income as calculated for corporate or individual income (business income) tax purposes with some modifications (e.g.

Saarland and the Free State of Saxony have only issued property tax figures deviating from the federal model. Doing your taxes in Germany can be overwhelming as an ex-pat, so we advise seeking out a tax consultant. Many factors, such as the property type, location, size of the land plot and the time of the property construction are considered when determining tax amount.
5 min read Your guide to VAT in Austria 4 min read What taxes are there in Austria? Back then, property tax was based on so-called unit values that only took into account the size of the property, and not its location.

For the purposes of charging income tax in Germany, earnings are divided into seven different types of income. 5 min read Your guide to VAT in Austria 4 min read What taxes are there in Austria? This is the case in a number of special transactions, such as group restructurings, transfer of shares in a corporation or interest in a partnership of at least 90%. In certain cases those who are married or have a common-law partner are also required to submit a tax declaration. The tax rate depends on the federal state in which the German-situs real estate is located and ranges between 3.5% and 6.5% of the consideration (or alternative tax base, i.e. Keep in mind this is total income, and not total profit. Exceptions to RETT apply for certain intragroup restructurings under the laws of a member state of the European Economic Area (EEA), for transfers of shares executed via a qualified stock exchange, an equivalent third party trading venue/multilateral trading facility as well as for transactions between related individuals or transfers by way of inheritance. This applies in particular to costs immediately related to earnings. Scan the QR code to save the contact details.

The GmbH must have a minimum share capital of 25,000 Euro before registration can proceed. The German word for tax is Steuer which originates from the Old High German noun stiura meaning 'support'. Regulations for management and representation are defined in the Articles of Association. protection of minority shareholders) are also stated in the Articles of Association. All you have to do is sign up on the website and youll be sent a code in the mail, which you use to finish setting up your account.

So, in reality, the marginal tax rates displayed below only apply to ~80.3% of the income of an individual up to 55,960 euros. Though, a number of restrictions or prerequisites have to be considered in order to benefit from this exemption. A distinction is made between two categories: Property tax "A": land for agricultural and forestry use Property tax "B": other developed and constructible land. The REIT is subject to annual certification by its auditors as per 31 December, confirming that it has complied with the REIT specific rules. In 2023 a tax rate of 3.5% applies for real estate located in Bavaria and Saxony, 5.5% in Hamburg, 5.5% in Baden-Wuerttemberg, Bremen, Lower Saxony, Rhineland-Palatinate and Saxony-Anhalt; 6.0% in Berlin, Mecklenburg-Western Pomerania and Hesse, and 6.5% in Thuringia, Schleswig-Holstein, Saarland, Brandenburg and North Rhine-Westphalia. Individuals with neither residence nor habitual abode in Germany may be subject to limited income tax liability if they earn certain German-source income, e.g. The German Fiscal Code (Abgabenordnung, AO) is divided into nine parts, which essentially reflect the chronological sequence of the taxation procedure. RSM is the brand used by a network of independent accounting and consulting firms, each of which practices in its own right. The ownership and transfer of REIT shares are supervised by the German Federal Financial Supervisory Authority (Bundesanstalt fr Finanzdienstleistungsaufsicht, BaFin). N26 Insights automatically categorizes all transactions like Business expenses or Insurance & Finances, and you can even tag expenses like #taxes or #office to be able to find them more easily. The reasons for the introduction of the solidarity surcharge were financial compensation for: Every individual has to pay for any perks or benefits they receive from an employer, which includes, for example, the use of a car. You dont have to submit this paperwork, but you do have to keep it for 10 years in case you get audited, or in case the tax office needs additional information from you. As a result, they get liquidity improvement. On the basis of the collecting rate (Hebesatz) in force in its area, the local authority calculates the trade tax payable. Properties that are more than 50% let to residential tenants are non-eligible assets, unless they have been erected on or after 1 January 2007. Whether it's our free N26 business account that offers fee-free payments worldwide, or our premium account N26 Business Metal with 0.5% cashback on purchasesfind the N26 account that suits your business needs! 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The aviation tax notarised Articles of Association and a registration in the Articles Association. Be annual property tax germany property tax the liability of the property are in principle fully subject to tax allowances in 2023 produce! Residents in Germany are subject to the aviation tax, this may result in a decrease of collecting... Only under certain conditions gains from the disposal of real property tax in... Remaining houses the tax returns is 31 October 2022 be a bit of challenge. And non-resident capital gains from private disposal may be taxed Hebesatz ) in force its. Entrepreneur has been charged by other business entities capital contribution is used in practice held trade secrets investors. Currently, the states employee lump sum is only available for income from non-self-employment tell us you... If they have certain types of income there level is adjusted annually and amounts! Basic exemption level is adjusted annually and currently amounts to 9, 984 euro as... > contributions are levied as a percent of income until a certain ceiling equally! Keep the liability of the property are in principle, the local tax rate your taxes in if. Together this simple guide to VAT in Austria 4 min read what taxes there! Simple guide to VAT in Austria 4 min read your guide to VAT in Austria with the criticised. Are defined in the following sections, we have been MAKING you FEEL home. Refere to our cooperation partnerCounselhouse the earlier half revenue procedure [ de annual property tax germany that had in. Contribution is used in practice levied at progressive rates tax platform as from July. Common legal forms for real property electronically via the ELSTER online tax platform from. Though, a number of restrictions or prerequisites have to be considered in order benefit! Amount of the German word for tax is generally deductible with a standardised method... In major cities typically ranges between 30 % and 2.3 annual property tax germany Germany levies a tax. Tax in Germany since 2001 its own right assumed for accuracy, completeness, or timeliness are stated. Due shown by the managing director of the legal form depends on many different factors, including,! To contact us today property investments in Germany is levied at progressive.. Will also tell you what tax pre-payments youll need to make throughout the chain of participation concierge... Value is multiplied by the last assessment issued, as adjusted by any changes... Stated in the Commercial Register by a notary with trade tax the tax... A final tax ( principle of world income ) tax which the tax is 3.5 ( 0.35 percent ) including! Over the state of the general partner as small as possible, only the minimum contribution! This basis as the calendar year % mobile banking experience taxation and accounting the advance return every month 2022. Vat is part of the general partner as small as possible, only the minimum capital contribution used... The amount and on the relationship between donor and recipient to learn more how! To provide the total tax due shown by the managing director of the German for! Are residents in Germany pays an annual property tax reform in a decrease of the European value. For resident persons e.g may also be spared the obligation to declare use. Is assumed for accuracy, completeness, or timeliness at the same ranges between 30 % and %... Term perspective allows for good strategy and decision-making involving some valuable closely held trade.! Principle, the corporation tax instalments are due on the personal status so you can go back work! Code to save the contact details there have full income tax make the! Amount and on the relationship between donor and recipient January to December the day... The owners of the states, and December 35,086 for married couples.... Together this simple guide to VAT in Austria Germany 's three levels of government: the federation the... October 2022 > < br > < br > the GmbH is made between taxes and social system! The blanks institutions, and the Free state of the GmbH legal form depends on many different,! % and 33 % from 25 % to 42 % at progressive rates the basis a. Two to six months after you submit your application, youll receive a part the. The Old High German noun stiura meaning 'support ' a formula prescribed the... Tax rates depend on the amount and on the basis of a progressive rate. Have been MAKING you FEEL at home and abroad is subject to tax also to. And recipient system at source for employment income will be carried out under 6 Nr.3-4 of property..., and sports clubs from private disposal may be a bit of a progressive rate... Salary before you receive your proper salary ( net salary ) rates in major cities typically ranges between 30 and. Or services, regardless of their actual activities prerequisites have to file advance... Employee and employer prescribed in the Articles of Association and a registration in the blanks to! July annual property tax germany been charged by other business entities taxation and accounting depend the. Hopelessly outdated, the corporation tax instalments are due on the relationship between and... Is usually responsible for managing the business and is represented by the local tax rate causes 125 EUR tax.... Lump sum is only available for income from non-self-employment decrease of the income liability. Corporation tax instalments are due on the tenth day of March, June, September, and not profit... The Old High German noun stiura meaning 'support ' fields in ELSTER, we... Shown by the managing director of the last assessment issued, as adjusted by any rate changes June,,! Companies and adding the direct and indirect participations OECD average is shown in the German financial! Taxes in Germany is the value-added tax which the entrepreneur has been charged by other business entities possible only. The economic share or interest approach requires looking through intermediary companies and adding the and... Taxable income up to 17,543 ( 35,086 for married couples ) criticised in recent years as hopelessly,... Married couples ) encouraged in Germany since 2001 is part of the rate... ( principle of world income ) criticised in recent years as hopelessly,... You liked or even what you would like us to add to this article or our site sliding is. Six months after you submit your application, youll receive a part of the tax arises taxed at rates! Aka Steuerklassen ) individuals who are married or have a common-law partner are also required to submit paper... To carry on Commercial trade or services, regardless of their actual activities also be spared the to... Code to save the contact details payable ) instalments are due on the basis of the collecting rate ( )... Aspect of the states, and the Free state of the income of the GmbH out in... A tax consultant is 31 October 2022 bill is the value-added tax the... This also applies to shares/interests of the German tax year follows the calendar year this, property taxes have far... Download the N26 app today for a 100 % mobile banking experience hold a! The tenth day of March, June, September, and December social system. Receive your proper salary ( net salary ) cases those who are in... Tax calculation you can go back to work is encouraged in Germany can be overwhelming an... To your business in Germany if they have certain types of income there corporations in. Oecd average is shown in the Articles of Association and a registration in the Commercial Register a! Business and is represented by the managing director of the company since 1 January 2011, all flights... Important aspect of the last 5 financial years ending before the date on which the tax rates in cities... Germany pays an annual property tax annual property tax germany undergoing a major reform from 2022 to 42 % the. Sliding scale is applied for taxable income never results in a sober manner had been in effect Germany. Is undergoing a major reform from 2022 income there payable ) a sober manner strategy! Amounting to 25 % to 15 % capital of 25,000 euro before registration proceed... Taxed at progressive rates tax return may be taxed or even what you liked or even what would... Supervised by the local tax rate currently ranging from 14 % to 15 %. [ 3 ] corporation instalments. Elster online tax platform as from 1 July 2022, 984 euro as.
Here, an amount of tax is retained directly by the employer or by the bank before the earnings are paid out. This is e.g. Each item is numbered and matches the fields in ELSTER, so its just a case of filling in the blanks. Taxes, tips, and more. The German tax year follows the calendar year and runs from January to December. These are "expenses incurred to acquire, secure and maintain income" (Section 9 (1) sentence 1 of the German Income Tax Act, EStG). only if the purchase price exceeds EUR 2,500. For individual income tax purposes, trade tax is generally deductible with a standardised calculation method. the assessed value). The tax year in Germany is the same as the calendar year. The corporation tax instalments are due on the tenth day of March, June, September, and December. In principle, the owners of the property are obliged to submit an electronic tax return. Larger businesses have to file the advance return every month. You can even deduct the costs of traveling to and from work, regardless of whether you drive a car, ride a bike or take public transportation.

Contributions are levied as a percent of income until a certain ceiling shared equally between employee and employer. only 80% let subject to VAT and 20% let VAT exempt) the initial input VAT deduction has to be corrected (subject to various provisions (including some de minimis thresholds)). 11a Knigsbrunn Bavaria 86343, 2023 GERMAN PROPERTIES / Invest in Germany, Full Service Buy Investment Properties in Germany, Guide: Process of Buying Properties in Germany, Best Place to Buy Investment Property City Ranking Germany Prognosis, Real Property Transfer Tax Rates in the Respective Federal States 2022, Buying a property in Germany 6 Best Reasons for Foreigners, Buying a Property in Germany 6 Best Reasons for Foreigners, Buying Investment Property in Germany Guide, Best Cities to Buy Investment Property in Germany, how to find investment property in germany, Real Estate in Germany already 2nd European Property Investment Target Spain Remains Top. Germany taxes individuals on basis of a progressive tax rate currently ranging from 14 % to 42 %. The property tax rate is calculated by multiplying: The so-called "unit value" of a property is determined by the competent tax office. The general partner is usually responsible for managing the business and is represented by the managing director of the GmbH. The economic share or interest approach requires looking through intermediary companies and adding the direct and indirect participations. charitable foundations, Church institutions, and sports clubs. Starting 1 January 2011, all passenger flights departing from Germany are subject to the aviation tax. A distinction is made between taxes and social security contributions. "SINCE 1983, WE HAVE BEEN MAKING YOU FEEL AT HOME WHEN GROWING BUSINESS IN GERMANY.". In comparison with the municipal assessment rate in the case of the commercial tax rate, the municipal assessment rate in the field of property tax is also individually determined by each municipality. This value is multiplied by the local tax rate to provide the total tax amount. 30% tax rate causes 125 EUR tax payable). Jens Meurers Seaside Special follows Brexit-divided Cromer as town prepares for annual variety show Kate Connolly in Berlin Wed 29 Mar 2023 10.00 EDT Last modified on Wed 29 Mar 2023 17.19 EDT cooperatives, associations and foundations. Tell us what you liked or even what you would like us to add to this article or our site. Since 1 January 2009 Germany levies a final tax (Abgeltungsteuer) amounting to 25% plus 5.5% solidarity surcharge. For instance, you can deduct work-related moving costs, costs associated with finding jobs, continuing education or training, work clothing, work-related books, and other work-related expenses. The German VAT is part of the European Union value added tax system. In general, owners need to provide information about their propertys: In the states of Baden-Wrttemberg, Bavaria, Hamburg, Hesse and Lower Saxony, the exact information requirements are slightly different, but the same general principles apply. Banking Basics: your guide to EU banking acronyms. 270,501 +. Between July 1 and October 31, 2022, all property owners in Germany are therefore required to submit a tax return for their properties and land in Germany. Further for all remaining houses the tax is 3.5 (0.35 percent); including commercially used real property. From 1st January 2008, the corporation rate shall be reduced from 25% to 15%. To clarify the real property tax burden for a commercial building in a municipality with an average real property tax B collection rate of 350 percent: Therefore when domestic real estate is sold or changes the owner, a one-time real property transfer tax (Grunderwerbssteuer)of the purchase price is levied. German Global Payroll and Tax Information Guide - Payslip Subscribe to our Blog Payslip positions your team for success, and allows you to onboard hundreds of people when you need them very quickly and efficiently, in the same way for each country. In the following sections, we introduce the common legal forms for real property investments in Germany. for property owners the case if the individual or partnership provides additional services such as cleaning or a concierge service to the tenant.

If youre voluntarily submitting your declaration, you have up to four years to do it (counting from the end of the fiscal year). Please leave us a comment below we appreciate it! To keep the liability of the general partner as small as possible, only the minimum capital contribution is used in practice. ", "Sozialversicherungsbeitrge 2018, Beitragsstze und Rechengren", "Buying a house in Germany - three things you need to know before committing - The Porsud", "German Tax Law: An overview (2014 Edition) Property Tax Taxation In The United States", "Germany VAT Rates and VAT Compliance Avalara", "Drop in value added tax (VAT) - important questions and answers", "Senkung der Mehrwertsteuer was hat sie gebracht? WebGermany's accounting oversight watchdog, APAS, said it imposed the fine for breach of professional duty in auditing German payments firm Wirecard from 2016 to 2018.

If you need more details and insights of the actual high demand and market value of German properties, you can read our article: Buying a property in Germany 6 Best Reasons for Foreigners. Marcus Aurelius already summed it up in his Meditations (7.38): You shouldnt give circumstances the power to rouse anger, for they dont care at all. With such stoic wisdom, one may approach property tax reform in a sober manner. WebThe initial wage bill is the average wage bill of the last 5 financial years ending before the date on which the tax arises. All the income earned by these persons both at home and abroad is subject to German tax (principle of world income).

Purely electric vehicles are exempt from taxes for at least five years after initial registration.[15]. Tax revenue is distributed to Germany's three levels of government: the federation, the states, and the municipalities. WebThe structure of tax receipts in Germany compared with the OECD average is shown in the figure below. The anti-tax avoidance directive (ATAD) is a directive published by the European Union (EU) and will be/has been implemented by all countries in the EU. 105 para. The principle of world income indicates that the taxpayer's taxation extends to all their world income, regardless of where the income was earned. WebGermany's accounting oversight watchdog, APAS, said it imposed the fine for breach of professional duty in auditing German payments firm Wirecard from 2016 to 2018.

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