The taxation is no longer based on 25% of the equities, with the possibility of a fifty-percent drop in value if the donator is less than 70 and sells the integrality of his equities. It is still about a commitment in which every signatory has to conserve the equities for six years, including a two-years collective commitment.

To make the family capital recomposition at the end of the agreement easier, it is now possible to go through a holding on the agreement period. It enables to make the management easier as long as, in the end, the firm belongs to one child that compensates his siblings in return. This holding can welcome an external shareholder up to 25% of the capital to bring some money and diversify the firm activities.

The capital thresholds to transmit are also reduced to 17% for the titles and 34% for the non-listed firms’ voting rights. They are also reduced up to 10% of the titles and 20% for the voting rights of the listed firms.

Many reasons were observed :

• The leaders’ aging is increasing and brings about more closures than firm transmissions. « Before 65, the will to transmit exists and fulfills. After, it withers and solutions reduce »
• Economic conditions require to transmit rapidly in a hyperconected world to hold the international competition, while becoming an expert of tax law issues.

Solutions exist :

• Accompany the SMBs transmission : in France, it raises and represents 1/3 of the transmissions. Moreover it is higher than the frontier countries average as it corresponds to nearly 16 000 files per year against 12 500 in United Kingdom, 10 800 in Italy and 8400 in Spain.
• Facilitate the familiar transmission : most effective transmission, we observe in Germany that it reaches the 26 000 files per year.
• Raise awareness with the input of good practices, options, studies and exchanges between peers.