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20 December 2016

Changes to the Hungarian Film Legislation

The Hungarian Parliament passed the bill On 6 December 2016 that introduces changes for the modification of the Motion Picture Act.

One of the most important changes is that the Hungarian National Film Fund’s collection account can receive supports in the 4th quarter of 2016 without limitation, i.e. the amount of supports received until 31 December 2016 can exceed the HUF 14 billion threshold. A further change regarding the collection account is that its available budget will be regulated by a government decree from 2017. According to the government decree published on 16 December 2016, the available budget for 2017 will be HUF 33 billion (approx. USD 111.3 million) instead of the originally proposed HUF 25 billion. As a result, the recently experienced shortcomings in the tax rebate financing will most likely disappear. Source: Orientax