Here we see some capital gains tax examples from selected countries. We're not gonna go through all of them here, but just pick out some highlights. If you look at the first one, Germany, it says that capital gains are generally included in taxable income, and so tax will be paid at your marginal tax rate. The second bullet, though, is more interesting. It says capital gains on sale of domestic or foreign subsidiaries generally are 95% tax exempt, and we see something similar for many of these countries. If we look at France, we see that there's a 38% tax rate, but if we look at the second bullet points, it says capital gains on disposal of subsidiaries are 88% tax exempt. If the seller has owned substantial shareholding over 5% for at least 24 months, we see something similar for Italy, again, in its second bullet point. We see capital gains on sale of investment generally are 95% tax exempt as long as the investment has been owned over at least 12 months. It's important to look at the applicable tax rules in the jurisdiction you are working in, so always get expert advice on this.