Written by on Jan 8, 2013. Posted in Incentive News

Czech Republic overrules presidential veto to boost location filming fund

Czech Republic’s location filming fund has been boosted despite an earlier presidential veto. President Vaclav Klaus vetoed plans to expand the filming incentive as he disagreed with the notion of the film industry getting state funding, but the Czech Parliament overruled him.

In overruling the veto the value of the annual fund has increased by more than USD10 million to just over USD26 million. The new laws are intended to make the incentive payment process more transparent – it will now be administered by the country’s new State Cinematography Fund rather than the Ministry of Culture – and the funds are transferable from one year to the next. European Union ratification could still take several months.

Denisa Strbova is with the Czech Film Commission: “Between 2005 and 2010, when the support programme was launched, Czech Republic lost many great productions due to the fact that some neighbouring countries like Hungary already had the system of tax incentives."

In overruling the veto the value of the annual fund has increased by more than USD10 million to just over USD26 million.

Strbova adds: “We are really happy with the recent positive development and we believe it will return big projects to Czech Republic.”

Czech Republic offers a 20% rebate on eligible in-country costs, which has helped the country compete with many of its European neighbours. Commercials filmed in Czech Republic over the past year have included international spots for video game Ghost Recon Alpha and the Sony PlayStation Vita.

(Main page image: Wolfgang Sauber. Featured image: Petr Novák, Wikipedia)