Budget 2026: Firms to get 400% tax deduction for AI spending

PM Wong revealed the government is expanding on the ‘Enterprise Innovation Scheme’.

Singapore is expanding the ‘Enterprise Innovation Scheme’ to include artificial intelligence (AI)-related expenditures as a qualifying activity for the years of assessment 2027 and 2028, with a cap of $50,000 per year.

The scheme currently provides 400% tax deductions for qualifying activities such as R&D, innovation, and capability development, said Prime Minister Lawrence Wong in his Budget 2026 speech.

The ‘Productivity Solutions Grant’ will also be strengthened to support a wider range of digital and AI-enabled solutions.

“Every firm, regardless of size, can access tools that help them work smarter and compete more effectively,” Wong added.

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SG Budget 2026

Singapore Budget

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