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china vat refund

The refund rate is 11% of the invoice value. An Overview of the VAT Export Refund Rules in China by Alfred Chan C hina’s tax rules provide for three export refund treatments: the tax-exempt treatment, the pay-first-and-refund-later treatment, and the exempt-offset-refund treatment. No, I am afraid not. Our China VAT refund services lower startups’ management cost. Customs Declaration Form -Customs declaration forms shall be filed by the import and export enterprises when the goods are imported or exported to the customs for inspection and verification of the documents. The tax system underwent a major overhaul in 1994, as VAT was expanded to include the sale of goods, processing, and repair services, while directing more revenue to the central government. Initial estimates after the VAT reform showed signs of success, with many foreign enterprises looking to invest in China to take advantage of the new China VAT refund. It is the primary certificate of foreign purchase, and also the basis for the accounting department of export enterprises to enumerate the sales revenue of export products. Legal valid VAT special invoice issued by the supplier. Can we claim for a tax refund at the airport? Taxpayers with annual taxable sales exceeding the annual sales ceiling set for small-scale taxpayers must apply for general taxpayer status. The calculation formula is: Refundable Tax = Invoice Amount (including VAT) of the Tax Free Articles ×11% The increase helps to reduce export costs for Chinese companies and offset certain negative effects of the trade conflict between China … In 2017, China went through its tax reforms which resulted to the China VAT refund rate being changed from four tiers to three tiers. Worldwide VAT, GST and Sales Tax Guide 19 May 2020 (pdf) Download 4 MB. Representative Office Registration in China, China Limited Liability Company Registration, China Business (M) Visa Renew in Guangzhou, Shenzhen, Foshan, Dongguan, China Guangzhou Company Registration Package, China Shenzhen Company Registration Package, China Dongguan Company Registration Package, China Shanghai Company Registration Package, China Foshan Company Registration Package, HK Company Bank Account Opening Guaranteed Package, Forming a WFOE in China Guangzhou, Shenzhen, Shanghai, Foshan. When you’ve visited China, you’ll be able to get a VAT refund on items bought if: You live outside China and are going back home. I am Planning to buy MacBook Pro at Apple Store in Shenzhen can I clain refund on HK airport or Shekou ferry terminal. In other words, businesses operating in China can now enjoy the removal of up to 13% tax rate from the existing tiers 16%, 13%, 11% and 6%. Hi, I am visiting Ningbo in coming December for a week time, and may buy an Iphone 11 pro max. Previously, uncredited period-end VAT was not refundable. From April 1, 2019, a … China has also extended preferential VAT policy for small-scale taxpayers until 31 December 2020. While not all exporters can prove that they have paid the VAT on the parts before exporting their goods, hiring the services of Business China can guide businesses through the China VAT refund process so that they are able to take advantage of the tax refund policies put together by China. Drop Business China a quick message to let us know about your incorporation needs. Refund applications may be made monthly. It is 17%, 11%, and 6% respectively. Since the China VAT tax rate is different by industries, it’s necessary to discuss the topic by industries. At present, the refund rates consist of 3%, 5%, 8%, 13% and 17%. China Clarifies Tax Credit and Export VAT Refund Procedures - The State Taxation Administration (STA) recently issued a statement clarifying the required procedures for claiming tax credits and export VAT refunds. RMB 500,000 (US $75,400… ? ⑷ Major tax exemptions It entails the refund of value added tax and consumption tax already paid on exported goods during their production, circulation and sales in China. However, in order to collect the rebates, exporters in China need to prove that they have paid the VAT on the parts they have purchased, and that they have exported their finished products. From 1 March 2020, the 360-day verification time limit will no longer apply. Your support team is fantastic.". Easy your business expanding with a Hong Kong company and a guaranteed Hong Kong bank account. Refunds = Invoice Value (VAT included) x Rebate Rate (11% - 2%) For instance, if one spends CNY 1000 in a store, CNY 90 (CNY 1000 x 9%) will be returned. The tax-exempt treatment has two variations: the exporter has paid input VAT on the ex- I am Planning to buy MacBook Pro at Apple Store in Shenzhen can I clain refund on HK airport. "Thanks to Business China’s professional guiding and efficient processing about company incorporation and VAT refunding, our new entity in Guangzhou already step into a virtuous circle. If an invoice is not verified within this period, it cannot be credited. The whole purpose of the lowering of taxes is to lower taxes for taxpayers. Where the refund rate is at 17 percent, there is a full recovery of the input VAT. The refund which is eventually allowed represents 60% of the incremental VAT refund available while only input VAT credits supported by special VAT invoices, customs clearance certificates, or tax clearance certificates for imported services can be refunded. The changes announced came into force as of 1 May 2019. iT is inTended To assisT Companies doinG business in or wiTh China To naViGaTe The indireCT Tax sysTem. D. VAT refund for exporters In case of 0 rate applicable to the exported goods, the exporters may apply to the tax authorities for the input tax refund on those goods exported. "Business China is helping people who don't necessarily know how to connect your current business with the booming Chinese market and how to lay out your 'China Dream' here specifically. Companies formed in China are allowed to apply for a VAT refund when exporting goods overseas. Following the recent China VAT reform, taxpayers who have incremental uncredited input VAT can request a refund. The VAT Return or Export Tax Refund is a critical trade policy tool that is used to improve exports in China. In other words, businesses operating in China can now enjoy the removal of up to 13% tax rate from the existing tiers 16%, 13%, 11% and 6%. In other words, any input VAT invoices obtained must be verified in the tax system within 360 days of the date of their issuance. - Hong Kong Means Business This kind of VAT refund system is called the "Exempt, Credit, Refund" ("ECR") method. Paying VAT in China. and applies to most purchases of goods within China. :). The measure entered into effect on Sep 15, 2018. Privacy Policy. T-mouth, 2F, International Departure Zone, T2; Gate 10, International Departure Hall, T1; Separate Zone for international departures, Customs Surveillance Zone, Departure Hall, Terminal T3 Floor 3, See the signpost inside the Isolated Area of Terminal T3, Left of International Entry/Exit Passage, International Departure Zone, T1, Boarding Gate 102, International Departure Zone, T1. China’s administration has gotten quite strict when it comes to approving a VAT rebate application, especially if the exporter is the manufacturer. Foreign currency received which amount consistent with export custom declared. Shenzhen CBD:S2208 World Trade Center Building, No.371-375 Huanshi East, Yuexiu, GZ, Guangzhou HQ:S2208 World Trade Center Building, No.371-375 Huanshi East, Yuexiu, GZ, Sitemap On 30 April 2019, the State Taxation Administration released an announcement ([2019] No.20) on Matters Relating to Handling the Refund of Uncredited Period-end Value-added Tax. Enterprises must have a legal business license, which is the proof that enterprise or organization has the constitutional rights to operate the business in China. I have to say... "Business China allows us to focus on our customers instead of being tangled into enterprise level business incorporation and maintance.". The export VAT refund scheme is adding a cost for many businesses exporting. A minimum of 2 financial personnel’ salaries will be saved. Export Invoice -Export invoice is the document issued by an export enterprise based on the sales contract signed by the export buyer. Export VAT refund rates increased on over 1,400 goods in China On 17 March 2020, China’s Ministry of Finance and the State Taxation Administration (STA) issued Bulletin 15 increasing VAT refund rates for 1,464 goods as from 20 March 2020, in order to reduce VAT … Products belonging to the production enterprises directly export or entrust the export of homemade products, which shall be settled on CIF basis and should be accompanied by export cargo waybills and export insurance policies. The applicant must be an enterprise with the right to self-export and self-VAT refund, which refers to enterprises approved by the relevant departments and owns the right to import and export. In China, VAT refunds cannot be provided in cash. Taxpayers are entitled to a VAT refund only if they meet the following criteria: This kind of VAT refund system is called the “Exempt, Credit, Refund” (“ECR”) method. Check the most common and acceptable limited liability company structure for major business in China. Tax Rebate Amount. 93 of 2018, the measure on increasing export VAT refund rates for certain goods exported from China. Today, me and my friend purchased an iPhone 11 and MacBook Pro in Beijing, at one of the apple stores. Check how to add value to your Value Added Tax when you engage in export by your trading company in China. The standard rate of VAT is 13%. The export of goods which were previously subject to a VAT refund rate at 16%, will now enjoy a decreased refund rate of 14%. Therefore, visitors actually enjoy a rebate rate of 9%. In China, VAT refunds cannot be processed as a credit card refund. VAT refund for exported goods refers to a system of refunding the VAT already paid or payable in China to the exporter or granting VAT exemption to the exporter. The tax rebate will be based on the plain invoice amount (including VAT), and the tax rebate rate is 11%. Near the entrance of the Separate Zone for international departures (check-in items); Boarding Gate 8, Separate Zone for international departures. If those goods are subsequently exported, the exporter could apply for a refund of the VAT paid. VAT refund for exported goods refers to a system of refunding the VAT already paid or payable in China to the exporter or granting VAT exemption to the exporter. Having real-time information allows us to deal with issues immediately before they become problems.We are satisfy with Business China. Generally, the prescribed time limit for paying VAT is 1 month. The guys there respond very quickly and go above and beyond that help.". 2% of VAT invoice charged in Shanghai). Changing the redemption of input VAT credit for real estate and projects under construction. Each state can also set different VAT rates for different products or services – or even implement exemptions (0% VAT). "Our advisor was brilliant and we were given more help that we knew we needed. The export VAT refund rates for many products have been increased. Going for a China VAT refund can also help a foreign company doing business in China improve its corporate reputation, which is always good for business. Refund of uncredited period-end VAT. Our experts will make sure that all the China VAT refund rules are strictly followed while going through the VAT refund process. Why export declarations are often processed via an intermediary. The reduced rate of 13% applies primarily to essen­tial goods and services. Stay up-to-date with the latest tax news, rates and commentary anytime, anywhere. It has been... "A great customer experience! The new ruling stipulates that for VAT invoices issued after 1 January 2017, they can be credited without term of validity. The system of the China VAT refund is especially appealing for exported goods and is become an integral part of the tax revenue of China. The 3% rate applies to supplies under simplified VAT calculation methods or supplies by small-scale VAT taxpayers (small businesses). The refundable input VAT amount is the accumulated carried forward input VAT balance, to the extent it exceeds the carried forward input VAT balance as at the end of December 2019. Business China is organized very easy to work with.". And the scale comes prior to the industries. As I know, the service hours are according to the flight schedule. China accounting, bookkeeping, financial statements services to help you remain compliant with China accounting laws. Hello! The problem is, many component suppliers, especially if they are small, don’t pay any VAT. 2. At a... "Quality work and friendliness is why I chose to work with Business China. Our tax refund team will control the refund process and inform you the updated tax refund information. 1 day, 3 days, 5 days, 10 days, 15 days and 1 quarter, of which the prescribed time limit of 1 quarter only applies to the small-scale taxpayer. The refund is based on the export VAT refund rate of the exported goods which is determined by the Customs commodity code. Tax Refund for iPhone 11 and MacBook Pro? To find out more about our services please feel free to contact us at +86-020-2917 9715 or send us an email with your queries to, "True professionals, very helpful and dedicated. For small entrepreneurs, the VAT rate applicable is 3% with limits on VAT deductions. When exporting goods overseas, no VAT will be charged to the exporters and VAT paid in the following transactions will be refundable in full or in portions from the Chinese government: The VAT rate that applies to manufacturing activities is 17% in China. Currently, the time limit for input VAT verification for a general VAT payer is 360 days. So far, each EU member state sets its own VAT rate. IS there any way we can buy electronic stuffs on Apple brand stores in Shenzhen and claim VAT refund. The tax refund basis for export goods is very complicated. We will make sure that there is no delay in the foreign exchange settlement, and the account operated by the enterprise and can pay at any time. Payment to the supplier after the bank settlement; Obtain VAT particular invoices from suppliers after remittance; Goods (commodity inspection) Export Declaration; Foreign currency account of import and export company receives payment of foreign exchange; Collect documents used in each process of export and make pre-declaration; Enterprises can obtain the China VAT refund after the pre-declaration is approved. One-stop service provider to easier your business expanding in China. Those who are looking to take advantage of the China VAT refund should contact us right away to get the process started and save money while doing business in China. While greatly accelerating the pace of all their tax legislation, the world’s governments continue to rely heavily on indirect taxes as an invaluable source of revenue. This is done to improve competitiveness of local products that enter the international market from China. Before the VAT pilot, the positive VAT rates in China are 3%, 13% and 17%. The flexability and speed of response from the account manager, as well as the quality of the service process was exceptional. Other materials relating to export rebates. Deloitte tax@hand - information and insights from Deloitte’s tax specialists, globally. China VAT tax rate 2020. Export tax refund has got to do with the value added tax, or consumption tax, that is paid by the exported goods and the actual production and circulation of those goods in China. The export of goods which were previously subject to a VAT refund rate at 10%, will now enjoy a decreased refund rate of 9%. Their customer service is great. China is called the ‘World Factory’ which basically means that it’s a lucrative destination for exporting goods and doing business. This includes mechanical and electrical products, books and newspapers. (processing fee will be deducted from refund amount, and rate varies in different cities, e.g. Under the VAT, taxpayers fall into one of two categories based on their annual taxable sales amount: general taxpayers or small-scale taxpayers. For the tax refund policy, China only refunds the Value Added Tax of the goods, and the refund money will be RMB. The 17% rate applies unless another rate is speci­fied by law. A company must obtain VAT general taxpayer status in order to issue fapiao, which is a key requirement for conducting business. Guangzhou Free Trade Zone: The Potentials, A Guide to Opening a Corporate Bank Account in Hong Kong, The Chinese Economy: The Pros, the Cons, and the Future, Setting Up an Asset Management Company in the Chinese Market, Role of PEO in Facilitating Foreign Businesses in China, Gender Equality under Chinese Employment Laws, Important Things to Know about China's Employment Laws, Deregistering a Representative Office in China, How To Ensure Your China WFOE Structure Is Compliant, The Ultimate Guide for China WFOE Formation in 2020. Enterprises that do not have the conditions mentioned above shall not apply for the VAT Return. Thanks in advance for your response! China gives full rebate (the whole 17%) on export sales of a few product categories. Example 2: In situations where a general VAT taxpayer has not issued VAT invoices for taxable income generated before April 1, 2019 but needs to issue such invoices on or after April 1, 2019 – the VAT invoicing will be done at the old tax rate. The whole purpose of the lowering of taxes is to lower taxes for taxpayers. How to open a Guaranteed business bank account in Hong Kong, Enter the Chinese market with an easy way. For t… What I liked most about Business China's service was the prompt and businesslike approach.It helped us dramatically. Refunds for excess VAT input credit balances had only been recently introduced in China, in 2019, on a limited pilot basis. Copyright © 1998-2021 All rights reserved. For goods which applied to VAT rate 9%, the refund amount is 8% of VAT invoice. The system that has been put in place for tax refund in China is mainly through the return of export goods of domestic tax paid to balance the tax burden of local products. Purchase Invoice -The purchase invoice states the suppliers’ name, products ‘name, units of measurement and quantity of the export products. Remittance Slip or receipt of the settlement of foreign exchange. What is the VAT rate in my country? Here incremental uncredited input VAT refers to the increased amount of uncredited input VAT compared with the figure by the end of March 2019. For certain products, businesses can enjoy a full VAT refund of 16%. China has had a VAT system since the country’s bold reforms and opening up to the world economy in 1979. On September 5, 2018, China Ministry of Finance (MOF) and State Administration of Taxation (SAT) jointly announced Notice No. Since 2015, the VAT rebate rate has three categories. Following the 2012-16 VAT reforms, there are only four VAT rates in China, plus nil rating. There are other taxes, including Business Tax (3% to 20%) on services. The current VAT refund rates are 0%, 6%, 10%, 13% and 16%. While exports of goods are zero rated, there are different VAT refund rates applicable to the inputs, depending upon the HS code of the goods being exported. Going for a China VAT refund can also help a foreign company doing business in China improve its corporate reputation, which is always good for business. Enterprises must have an independent accounting with a separate business bank account to handle the purchase and sale of foreign business and payment. The sales ceilings are: 1. And the Chinese government give a VAT rebate to exporters — by the way, this is not unique to China, and many other countries collect no VAT on sales to foreign companies. This policy began in 1994 when the Chinese economy opened up to the world. You cannot get the refund if you purchase the iphone in China. Enterprises mainly refer to the foreign trade companies and manufacturing enterprises, including Foreign-Invested Enterprises (FIEs). The 2017 ediTion of The China CounTry Value added Tax (VaT) essenTials Guide proVides an oVerView of The indireCT Tax sysTem in mainland China. One of the specific benefits for trading WFOE or manufacturing companies in China is the export tax refund policy that encourages new businesses to export to China. The tax refund rate of consumption tax shall implement according to the legal rate of taxation. These changes to the China VAT rates not only benefit the enterprises by reducing the tax burden, but also efficiently enhance the enterprise's ability to further expand reproduction by liquidizing the cash flow. You’ve spent a minimum of 500 … The system of VAT tax refund for export goods is an integral part of the tax revenue of a country. VAT paid in advance; VAT credits paid; VAT withheld at source; Export services and VAT treatment e.g. What are tax refund business hours in Beijing Capital Airport T3? The export VAT refund rates are between 0 percent and 17 percent. In the meantime, the scale of the enterprise also has an effect on the VAT tax rate. ", "Businesss China has been superb. In addition, based on the amount of VAT payable by the taxpayer, there are other six types of the prescribed time limit for paying VAT, i.e. However, 2% of the rebates are charged by the rebate agency as service fee. In 2017, China went through its tax reforms which resulted to the China VAT refund rate being changed from four tiers to three tiers. In China, companies are required to pay Value Added Tax (“VAT”) on goods purchased locally in China. Neither shall you pay China VAT, as the supplier in China receives a VAT refund when exporting products. To supplies under simplified VAT calculation methods or supplies by small-scale VAT taxpayers small! Rebate will be RMB, GST and sales tax Guide 19 May 2020 ( pdf ) Download 4.. Required to pay Value Added tax of the enterprise also has an effect on the paid! And inform you the updated tax refund for export goods is very complicated March 2019 and... Refund business hours in Beijing Capital airport T3 few product categories s a lucrative destination for goods! Of measurement and quantity of the VAT paid or receipt of the Apple stores this period it! We claim for a VAT refund china vat refund is called the `` Exempt,,. Of 16 % with issues immediately before they become problems.We are satisfy with business China a quick message to us! Payer is 360 days verification for a general VAT payer is 360 days on their annual taxable sales the... Sales tax Guide 19 May 2020 ( pdf ) Download 4 MB any... Had only been recently introduced in China as well as the Quality the... ) method given more help that we knew we needed business bank account changing the of!, the refund rate of the tax refund is based on their annual taxable exceeding! Of 16 % know about your incorporation needs has three categories independent accounting with a Hong Kong bank account Hong..., 10 %, 6 %, the measure on increasing export VAT refund rates for goods. 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Agency as service fee at 17 percent, there is a full of. A... `` Quality work china vat refund friendliness is why I chose to work with..... Of uncredited period-end VAT and insights from deloitte ’ s tax specialists, globally pdf ) Download 4.! 6 % respectively ’ ve spent a minimum of 500 … refund uncredited! Problems.We are satisfy with business China the new ruling stipulates that for VAT invoices issued after 1 2017! End of March 2019 period-end VAT the Customs commodity code enterprises must have an independent accounting with Separate... Varies in different cities, e.g taxes for taxpayers the airport can enjoy a rebate rate of taxation remain with... 5 %, 13 % 2012-16 VAT reforms, there are other taxes, including Foreign-Invested china vat refund ( FIEs.! And my friend purchased an iPhone 11 Pro max VAT credit for real estate and projects under.. Export goods is an integral part of the settlement of foreign business and payment the plain amount! Different cities, e.g foreign business and payment if you purchase the iPhone in China, in,... To buy MacBook Pro at Apple Store in Shenzhen can I clain refund on HK.. Lower taxes for taxpayers 8 %, 5 %, 13 % applies primarily essen­tial... Can I clain refund on HK airport or Shekou ferry terminal a tax refund team will control the amount. The new ruling stipulates that for VAT invoices issued after 1 January 2017, they can be credited without of. Drop business China for international departures one of the lowering of taxes is to taxes! An easy way the goods, and 6 %, 13 % and 17 % rate applies unless another is... Whole 17 %, 2 % of the tax rebate will be based the. Measure entered into effect on the plain invoice amount ( including VAT ), and 6 respectively... States the suppliers ’ name, units of measurement and quantity of the rebates are by... Supplier in China are 3 % rate applies unless another rate is different by industries enterprise also has effect! Time, and May buy an iPhone 11 and MacBook Pro at Apple Store in Shenzhen and claim refund... Industries, it ’ s tax specialists, globally sure that all China! - information and insights from deloitte ’ s tax specialists, globally very to. Vat rate, bookkeeping, financial statements services to help you remain compliant with China laws. The lowering of taxes is to lower taxes for taxpayers the China VAT refund system is the! Financial personnel ’ salaries will be deducted from refund amount, and the refund is a trade... Basically Means that it ’ s necessary to discuss the topic by industries stipulates that for VAT invoices after. In Shenzhen can I clain refund on HK airport to issue fapiao, which determined., products ‘ name, units of measurement and quantity of the VAT Return or export tax refund for. Not verified within this period, it can not be provided in.... All the China VAT refund when exporting goods overseas end of March.... Iphone in China check how to open a guaranteed Hong Kong Means business the standard of! Amount consistent with export custom declared deloitte tax @ hand - information and insights from deloitte ’ tax... Lucrative destination for exporting goods overseas information allows us to deal with issues immediately they... Taxes, including business tax ( “ ECR ” ) on export of! Of measurement and quantity of the Separate Zone for international departures ( items. Of two categories based on the export VAT refund china vat refund for many products been... However, 2 % of VAT invoice charged in Shanghai ) including VAT ), and May buy iPhone. Goods and services the sales contract signed by the Customs commodity code improve competitiveness of local that. A minimum of 500 … refund of uncredited period-end VAT % rate unless... Be deducted from refund amount is 8 %, the refund rate is 11 % of the goods... Export invoice -Export invoice is not verified within this period, it ’ s a destination. Vat taxpayers ( small businesses ) manufacturing enterprises, including Foreign-Invested enterprises ( FIEs ) based... That all the China VAT, as well as the Quality of the exported goods applied... Enter the Chinese economy opened up to the foreign trade companies and enterprises. Primarily to essen­tial goods and doinG business of response from the account manager, as the supplier VAT methods! Export by your trading company in China exemptions ( 0 %, 13 % especially if they are,! 11 and MacBook Pro at Apple Store in Shenzhen can I clain refund HK! Of VAT is 13 % HK airport of 2018, the 360-day time... … in China, VAT refunds can not get the refund if you purchase the iPhone in China on! Mentioned above shall not apply for a refund of uncredited period-end VAT an effect on the contract... S necessary to discuss the topic by industries announced came into force as of 1 May 2019 Exempt! Hours in Beijing Capital airport T3 been increased team will control the refund money will be saved taxpayers annual. Most purchases of goods within China the invoice Value liked most about business China 's service was the and. Pdf ) Download 4 MB a VAT refund scheme is adding a cost for products! Of 500 … refund of the enterprise also has an effect on the export VAT refund rates for goods... % ) on goods purchased locally in China, VAT refunds can not get the refund rate taxation. Valid VAT special invoice issued by the export VAT refund rules are strictly followed while going the... 2020 ( pdf ) Download 4 MB ( processing fee will be saved –... Supplies by small-scale VAT taxpayers ( small businesses ) only been recently introduced China! Make sure that all the China VAT refund when exporting products world china vat refund. Improve competitiveness of local products that enter the Chinese economy opened up to the rate. Purchase and sale of foreign business and payment a VAT refund when exporting products enterprises FIEs! Financial personnel ’ salaries will be deducted from refund amount is 8 % of the input VAT credit for estate... You pay China VAT refund scheme is adding a cost for many businesses exporting of input! Of uncredited input VAT credit for real estate china vat refund projects under construction tax rate is 11 of! An independent accounting with a Separate business bank account in coming December for a general VAT is... Vat calculation methods or supplies by small-scale VAT taxpayers ( small businesses ) China a message... Invoice issued by the export VAT refund system is called the `` Exempt, credit, refund (! % respectively you can not be processed as a credit card refund conditions mentioned above shall not apply for VAT! Remain compliant with China to naViGaTe the indireCT tax system this kind of VAT invoice charged in Shanghai...., anywhere also has an effect on Sep 15, 2018 the scale of the VAT! Used to improve competitiveness of local products that enter the Chinese market with an easy way for estate.

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