The Congress of French Notaries has proposed a significant change to the taxation of family gifts, according to franceinfo. The plan aims to encourage middle- and upper-middle-class French citizens under the age of 75 to pass on their assets to their descendants, while excluding the ultra-rich from the proposed changes. This proposal is part of a broader effort to make estate transfers more financially feasible for many families, without altering the principle that larger gifts are subject to higher taxes. Currently, France imposes a gift tax that starts at 5% for smaller transfers and increases to 20% for gifts between 15,000 and 500,000 euros. Under the notaries' proposal, the highest rate for this range would be cut in half, from 20% to 10%. However, the tax on gifts exceeding 500,000 euros would remain unchanged, ensuring that only the most substantial transfers are subject to the current higher rates. The proposed changes would also extend to other family members beyond children, such as nephews and nieces, who are currently taxed at a flat rate of 55% when receiving gifts. By introducing a tiered tax system for these extended family members, the notaries hope to encourage the movement of assets within larger family networks, promoting economic activity and intergenerational wealth transfer. This proposal reflects a growing debate in France about the balance between encouraging family wealth transfer and ensuring fair taxation. While the notaries argue that the changes would make it easier for ordinary families to pass on their assets, critics may question whether the benefits outweigh the potential loss of tax revenue. The proposal now awaits further discussion and potential approval by French authorities.