Czech Republic Prepares Additional Funding for Incentives

    Czech Republic Prepares Additional Funding for Incentives credit: Czech Ministry of Culture

    PRAGUE: Czech Government has approved 23 m EUR / 570 m CZK for film incentives, which will add to the 32.5 m EUR / 800 m CZK decided in the original draft budget. The amendment will now be submitted to the Chamber of Deputies.

    Additional support is expected in 2023 and 2024, according to a press release issued by the Ministry of Culture.

    The system solution for film incentives will be divided into two phases. First, the funding will increase by 23 m EUR / 570 m CZK and at the end of 2022 an amendment which will be discussed in August will enter into force introducing a limit of 6 m EUR / 150 m CZK per project.

    The second phase is the preparation of the new law which will transform the Czech Film Fund by a major amendment to the Audiovisual Act. The Ministry of Culture is already working on a draft and in August 2022 it will discuss it in an advisory group together with professional associations.

    The transformation of the Czech Film Fund is expected to take place in 2024.