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17th July, 2018

Gov’t to boost tax breaks for films

The tax breaks granted to movie productions will rise from 25% to 30%, under a bill now before Parliament.

In addition, the state will refund Ft 50 billion in film production costs annually to filmmakers.

MPs could approve the change on July 20 in an exceptional procedure.

The justification attached to the bill states that hundreds of jobs have been created by the influx of big budget productions in Hungary, contributing to economic development.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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