Hungary’s new government under Peter Magyar has reaffirmed its support for the country’s film production sector. Hungary is Europe’s second-largest production hub and has hosted Hollywood films such as “F1: The Movie,” “Dune,” and series such as “The Brutalist,” “Poor Things,” and “The Day of the Jackal.”
Applications for the 30% film subsidy will be able to resume after the government removes the cap on new registrations introduced last year by the outgoing government.
Culture Secretary Erwin Nagy said: “Today we open a new chapter in cooperation with the film industry by lifting obstacles to the tax incentives that ensure the smooth and predictable operation of the Hungarian film industry. This decision was taken in consultation with industry stakeholders and with the support and trust of the Ministry of Finance.”
“It is thanks to the decades of work of our world-class dedicated professionals and industry investors that Hungary has become the most popular film production center on the European continent, a place where almost any dream can be brought to the screen. We support the Hungarian film industry in every situation. They deserve it. It is our fundamental duty to secure national support for their work and help them compete internationally.”
“As many studies have already shown, the amount allocated each year to tax incentives will more than pay for itself due to its multiplier effect. Hungarian highly skilled craftsmen and outstanding creative talents are increasingly playing important creative and technical roles in international productions. Today, it is almost unimaginable to achieve box office or award season results without productions with the participation of Hungarian professionals.”
“We are proud that Hungary’s diverse landscapes and rich cultural heritage inspire filmmakers around the world and serve as the perfect backdrop for their stories. More than that, we are a nation of filmmakers ourselves. This craft is deeply rooted in our cultural tradition, and the strong symbiotic relationship between great local creators and a robust industry truly sets us apart in the global marketplace. Let’s continue the adventure.”
Recent productions shot in Hungary include Amazon MGM Studios’ Alone at Dawn. The second season of NBCUniversal’s “The Day of the Jackal.” The historical drama “The Nightingale” stars Dakota and Elle Fanning. Arnold Schwarzenegger’s action thriller “The Kellys”. “Dinner with Audrey” starring Thomasin McKenzie and Ansel Elgort.
Hungary was the first country in Central Europe to introduce a film incentive system in 2004. The country’s competitive tax refund system is guaranteed by the state through a collection account run by the National Film Institute. Financial support is provided in the form of post-finance cash rebates. Currently, the 30% incentive can be extended to 37.5% of eligible production expenditure by including 7.5% of non-Hungarian costs.
