All qualifying productions can accesa Tax Rebate
Minimum spend in Romania
Cash rebate for a project
All qualifying production can acces a Tax Rebate
Huw much is it worth? Any caps?
All local Hungarian expense (with few excetions) will qualify for a 30% rebate.
Ann additional allowance of 25% of the local Hungarian spend can be spent
on foreign costs by the Hungarian Product company.
Local and foreign spend can be in any currency and can also be spend
No minimum spend, no cap per project, no annual fiscal buget cap.
Tax rebates Romania and tax rebates Hungary: why should you be interested? Because with these additional ways to save money, like the tax rebates Romania provides, filming in these locations(Romania, Hungary) is easier than ever! Romania and Hungary do their very best so that filming in these countries is done without any difficulty. Also, both of these countries understand the importance of international business and the need for foreign investment. This is why the investments climate is a very good one for the film industry.
In both countries, the governments understand that companies that film in their countries bring more and more money into the economy. This is why they created the perfect environment for international film and video clients to do business in both Romania and Hungary. The main focus is on saving money and helping international clients of local film studios easily do business in these locations. This is why the tax rebates Romania gives and the tax rebates Hungary gives are very generous and provide a great environment for international film clients.
More and more international film clients choose to do business in these countries. This is also because creative industry standards are among the best anywhere in Europe. We invite you to contact us directly to find out more about the excellent conditions for doing business in Romania and Hungary with Sirbu Film Production. We will be happy to help you in every way possible! Also, we will explain in detail what these tax rebates and cash-back schemes can really do for your project! Just reach out to us by using the contacts page on this website. If you need a little bit more information on how you can save money by doing business with, just see the information we’ve gathered below!
For example, Romania has a 35% cash tax rebate program introduced by the Ministry of Economy. Also, Romania started its first filming incentive in 2018. This means that producers can now use a base 35% cash rebate when they spend $110,000 (€100,000). Furthermore, per-production payments are set at no more than $11m (€10m). The tax rebates Romania offers can increase to 45% for productions that are done only in Romania.
In addition, the tax rebates Romania provides are now valid through 2023! The Romanian government recently decided to revise the country’s 35-45% cash rebate. They took the decision to increase it up the €50 million ($59 million). This is all part of an annual fund to finance the cash-back scheme through 2023. This has helped to bring the local film industry up to international standards. The tax rebates Romania provides also include the 35% all-purpose cash rebate. Anyone working on films, short films, documentaries, TV and web series, and animated projects can save money this way.
Importantly, at least 20% of the budget must be spent in Romania. If the project explicitly promotes the country, the tax rebates Romania provides rises to 45%. The decision to extend the rebate through 2023 allows Romania to keep pace with neighbouring countries in an increasingly competitive region. Greece this summer raised its rebate to 40%, following recent increases by Croatia (25%) and Lithuania (30%). Poland also introduced a 30% cash rebate last year.
Since 2004, the tax rebates Hungary has provided have made a key difference for filming in this location. It now has a leading role in Europe in supporting international film productions. This was done by creating a very simple tax rebate system. Over the years, Hungary has had to compete with other European countries for the production of movie, shorts and documentaries. As a result, Hungary has made it very easy to shoot any kind of video and film material in the country.
For example, over the years, Hungary faced hard competition from other European countries (Ireland, Belgium and the United Kingdom and others). As a result, this has made Hungary become more and more attractive for the international movie business. The tax rebates Hungary now offers have been raised from to 25% and now are in the region of 30% for all kinds of productions. In addition, it is good and important to know that Hungary spends the biggest part of its GDP on the film industry in Europe.
To sum up, what we have today in Hungary and Romania is a very welcoming filming and production scene. Many of the world’s best studios shot their films both in Hungary and Romania. As a result of this local professionals gained very valuable filming and production experience. In conclusion, we can say with confidence that the movie business has exploded. In both of these countries it is now on the same level as in the best film locations around the world.
Everything from documentaries, reality television, animation films, and video-games have been filmed in Hungary and Romania. Furthermore, even HBO and Netflix productions were filmed in Hungary in recent times. All of this is possible through the generous tax rebates Hungary and the tax rebates Romania both provide. As you can see, doing business in Romania and Hungary gives you many benefits as our client! We think that these two countries are now among the best places in Europe where you can film anything you want!
Copyright © 2022 Sirbu FIlm Production. All rights reserved.