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Hungary Reopens Film Tax Incentive Scheme
16 Jul
Summary
- Hungary's government has lifted a pause on its 30% production tax incentive.
- The film incentive, originally launched in 2004, is a key draw for Hollywood.
- The current structure of the tax incentive will run until 2030.
Hungary has announced the reopening of applications for its 30% production tax incentive scheme, a move aimed at ensuring the smooth and predictable operation of its film industry. The culture minister stated that a new chapter in cooperation with the film sector has begun by lifting the previous application pause.
Established in 2004, Hungary's film incentive was among the first in Central Europe. It has since become a preferred shooting location for numerous Hollywood productions, attracted by the generous rebate and skilled local crews. The incentive provides a 30% cash refund on qualifying expenditures.
This significant financial support program was initially set to expire at the end of 2024. However, it has been extended for an additional six years, with the current structure valid until 2030. The pause on applications was implemented last year by the outgoing government.
The country's diverse landscapes and rich cultural heritage are highlighted as inspiring backdrops for global filmmakers. The government expressed pride in the strong symbiosis between local creators and the robust film industry, positioning Hungary competitively in the global market.
