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Hungary Reopens Film Tax Incentive for Hollywood
16 Jul
Summary
- Hungary has lifted the pause on its 30% production tax incentive scheme.
- The incentive, active since 2004, supports film and series expenditure in Hungary.
- The current incentive structure is extended and will run until 2030.
Hungary has officially reopened applications for its 30% production tax incentive scheme, a move celebrated as a new phase for the nation's film industry. This incentive, first established in 2004, has historically drawn numerous Hollywood productions due to its financial benefits and skilled crews.
The program provides a 30% cash rebate on expenditures incurred within Hungary for film and series projects. Originally set to expire at the end of 2024, the scheme has been extended for an additional six years, maintaining its operational status until 2030.
The pause on applications was implemented last year. The current administration, led by Prime Minister Péter Magyar, has taken steps to clear the influence of the previous government, as evidenced by this decision to resume the film incentive program.
