Czech Republic Increases Budget for Production Incentives by 12 m EUR


    PRAGUE: The Czech Government has decided to supplement the annual production incentives budget, which used to be around 31.5 m EUR / 800 m CZK, with another 12 m EUR / 300 m CZK. As a result, the total production incentives budget for 2021 increased to 43.5 m EUR / 1.1 billion CZK.

    If 31.5 m EUR / 800 m CZK attracted foreign investment in the amount of 197 m EUR / 5 billion CZK, the additional 12 m EUR / 300 m CZK will attract 78.8 m EUR / 2 billion CZK.

    It was the director of the Czech Film Fund Helena Bezděk Fraňková who presented to the Czech Minister of Culture Lubomír Zaorálek the concepts, the strategies and the estimations of the positive effect of the 20% incentives, prepared by all of the Czech Film Fund's departments, including the Czech Film Commission.

    The 20% incentives are provided for Czech services and goods spent on the territory of the Czech Republic.

    The production incentives’ budget has to be agreed on by the government and it has been included in the Czech state budget since 2010, when the production incentives were launched.