Over the past few years, the Hungarian film industry has experienced dynamic development. There have been many Hungarian films in production, some of which were high budget co-production films. Hungary has also hosted a number of international productions, such as The Rite, Bel Ami, The Eagle, - The Debt, Monte Carlo, The Raven, and 47 Ronin.
Due to favorable legislative changes in Hungary, significant investment in the infrastructure was made. For example, the Stern Studio at Pomáz and the Korda Studio at Etyek, organized by producer Andrew Vajna and the Hungarian entrepreneur, Sándor Demján. In addition to the financial incentives available, Hungary also offers a sophisticated film production workforce, including many talented and well-known production personnel, e.g., István Szabó, who was awarded an OscarTM, Lajos Koltai, Vilmos Zsigmond, Miklós Jancsó, and Béla Tarr.
Unfortunately, the financial crisis had its impact on the Hungarian film industry; however, as this segment is highly significant to the government, steps were taken to improve the financial situation of Hungarian film producers. In the spring of 2011, the government ordered that a new motion picture company would be established, and a national strategy would be created in order to rejuvenate the Hungarian film industry and to settle any outstanding debts. As a result, a new organization was established and called the Hungarian National Film Fund, which received almost HUF 6 billion from the budget to purchase existing debts and to renew the national film industry. Based on the number of domestic and international productions in progress, the Government’s policy may be successful in achieving its plan.
For more, dowload PDF
Return to Film & Television Tax Guide