Hungary’s 30% tax incentive for film and series productions has been extended for six more years.
The announcement was made by the Hungarian film commissioner Csaba Kael at the inaugural Made in Hungary event — a celebration of productions shot in the Central European country — in Los Angeles yesterday. The incentive will now run until 2030.
Hungary has become a popular shooting location for Hollywood productions in recent years thanks to its generous incentive program and experienced production crews. The incentive offers film and series projects produced in Hungary a 30% rebate based on their expenditure spent in the country. The scheme is part of the country’s film support program. The financial support is provided as a cash refund post-financing.
Recent international productions filmed in Hungary include Alien: Romulus, The Brutalist, Dune: Prophecy, NBC’s The Day of the Jackal, Pablo Larrain’s Maria, FBI: International, NCIS, and the Now You See Me series.
“It’s incredible that approximately 100 international motion pictures are made with us each year – from the biggest Hollywood studios’ breathtaking feature films, and miniseries to indies, intimate dramas, and innovative commercials,” Kael said at yesterday’s event.
“We’re thrilled to continue working with international partners and tell our common stories on all screens. This extension allows us to build on our success and deepen our commitment to take the Hungarian moving picture industry to a whole new level.”
Originally launched in 2004, Hungary’s film incentive was one of the first in Central Europe and had been set to expire at the end of 2024. The Hungarian Film Commission says the country’s annual film production spend has hit $910 million.
Discover more from Latest News Today
Subscribe to get the latest posts sent to your email.
