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European Commission Extends Hungarian Film Rebate

by Ulrika Lomas, Tax-News.com, Brussels

01 October 2013


The European Commission has agreed to allow Hungary to extend a tax incentive for domestic and international filmmakers for a further six years.

Companies making films and television programmes in the country will now be able to continue to claim a 20 percent rebate on production costs until the end of December 2019. The rebates are available through the corporation tax system, but since this year they have also been payable via a deposit account operated by Hungary's National Film Fund. According to the Film Fund, this has the advantage that the allowance will become available more quickly.

The maximum amount of support available has also been doubled for the third year, to HUF18.5bn HUF (EUR63m).

According to the Film Fund, Hungary has "a wide variety of locations, state-of the-art sound stages and professional crews." The country will appear as the backdrop in a new version of Dracula that will be broadcast in the USA on NBC from October.

Other countries have sought to emulate Hungary's success in attracting filmmakers. In April, UK Chancellor George Osborne said he had experienced an "epiphany" when watching a TV drama set in Britain but filmed in Hungary, and that this had prompted him to introduce tax breaks in the UK. In the same month, Jurate Pazikaite of the Vilnius Film Office cited the example of Hungary as Lithuania introduced its own incentives.

TAGS: tax | film finance | European Commission | Hungary | corporation tax | United Kingdom | tax breaks | Lithuania | Europe

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