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Péter Magyar’s new Hungarian government has reaffirmed its support for the film production sector in the country, which is Europe’s second biggest hub for production, and has hosted Hollywood films like “F1: The Movie,”
the “Dune” films, “The Brutalist” and “Poor Things,” and series like “The Day of the Jackal.”
Applications for the 30% film incentive will be able to resume after the government removed the cap on new registrations, which was introduced last year by the outgoing administration.
Ervin Nagy, state secretary for culture, said, “Today, we have opened a new chapter in our cooperation with the film industry by lifting the blockage on the tax incentive system that ensures the smooth and predictable operation of the Hungarian film industry. This decision was made in consultation with industry stakeholders and with the support and trust of the Ministry of Finance.”
He added, “It is thanks to decades of work by our world-class, dedicated professionals and industry investors that Hungary has become the most sought-after film production hub in continental Europe, a place where almost any dream can be brought to the screen. We stand by the Hungarian film community in every situation; they deserve it. It is our fundamental duty to ensure state support for their work and to help them compete internationally.
“The amount allocated to the tax incentive yearly pays for itself over through its multiplier effect, as numerous studies have already shown. Hungary’s highly skilled craftspeople and outstanding creative talents are increasingly taking on key creative and technical roles in international productions. Today, it is almost unimaginable to have a box-office chart or an awards season without a production made with the participation of Hungarian professionals.
“We are proud that Hungary’s diverse landscapes and rich cultural heritage inspire global filmmakers, serving as the perfect backdrop for their stories. Beyond that, we are a nation of filmmakers ourselves. This craft is deeply rooted in our cultural tradition, and the powerful symbiosis between our incredible local creators and a robust industry truly sets us apart in the global marketplace. Let the adventures continue.”
Recent productions filming in Hungary include Amazon MGM Studios’ “Alone at Dawn”; the second season of NBCUniversal’s “The Day of the Jackal”; the period drama “The Nightingale,” starring Dakota and Elle Fanning; the Arnold Schwarzenegger action-thriller “The Kellys”; and “Dinner With Audrey,” starring Thomasin McKenzie and Ansel Elgort.
Hungary was the first country in Central Europe to introduce a film incentive scheme, back in 2004. The country’s highly competitive tax rebate system is guaranteed by the state through the collection account operated by the National Film Institute. The financial support is provided in the form of a cash rebate through post-financing. Currently the 30% incentive can be extended to 37.5% of eligible production expenditure by including 7.5% of non-Hungarian costs.
