July 17, 2008, 8:18 CET
European Commission approves Hungary's film subsidy scheme
The European Commission on Wednesday said it approved a six-year EUR 231m Hungarian film support scheme which was modified from the original to introduce cultural content eligibility criteria.
The main difference between the new scheme and the original is that films must have cultural content to be eligible for support.
The scheme involves a tax incentive and grants. In the first year of the scheme, tax incentives are budgeted at HUF 3bn and grants at HUF 3.9bn including 3.014bn for film production and HUF 256m support for film distribution.
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