Dutreil pact: collective commitment deemed met and exemption kept in case of merger or capital increase

Article 57 of the 2006 Amending Finance Act relaxes the partial exemption from gift and inheritance duties (Article 787 B of the General Tax Code) and from the wealth tax (Article 885 I bis) linked to collective commitments to retain company shares. The collective commitment is deemed met when the shares have been held for at least two years by the same person and their spouse, above the legal thresholds, if one of them carries out their main activity or a management function in the company. The exemption is no longer withdrawn in case of merger, demerger or capital increase if the shares received are kept, nor if the shares are cancelled due to losses or court-ordered liquidation. These provisions apply from 1 January 2007.