The Hungarian Tax Credit
Is a Cash Rebate of 30% on all eligible Hungarian spend and 30% on all eligible non-Hungarian spend (eligibility of non-HU spend is capped at 25% of the Hungarian Spend).
- The Tax Credit is non-recourse, non-repayable and non-recoupable cash rebate
- No minimum budget, minimum spend, cap per project, annual fiscal budget cap and no theatrical screening requirements
- Local and foreign spend can be in any currency (USD, EUR, GBP, HUF) and can also be spent outside of Hungary
- No completion requirements, no delivery requirements
- All Films (or projects) have to meet the criteria of the cultural test which follows the usual European cultural tests
- A wide range of different genre and types of films have qualified including action, sci-fi, horror, comedy
Hungarian Spend (Definition): Production expenditure as per the film’s registered budget. Spent by the Hungarian Production Company registered by the NMHH Film Office (“National Film Office”) and accounted for in its statutory tax books. Paid to Hungarian tax registered subcontractors (both companies and individuals).
Non-Hungarian Spend(Definition): Same as above with the exception that it can be paid to any foreign (non-Hungarian) entity for costs material to the completion of the production. It is capped at 25% of the eligible Hungarian Spend. The qualifying non-Hungarian expenses can be incurred in any country, any location. The non-Hungarian expenses are subject to the same qualifying rules as the Hungarian expenses. Daily Television shows (e.g. Talk shows), Soap Operas, Commercials do not qualify
tax rebate from Hungarian spend
rebate from non-Hungarian spend*