Singapore unveils AI support measures and tax breaks in 2026 Budget

In its 2026 Budget, Singapore announced the launch of the 'Champions of AI' program to support businesses in adopting AI technologies. This initiative includes new tax breaks for AI-related expenditures, with a 400% tax deduction available for qualifying expenses. Additionally, the government will enhance its Skillsfuture website to facilitate AI learning for citizens, providing six months of free access to premium AI tools for those completing selected training courses. Prime Minister Lawrence Wong emphasized the importance of responsible AI development and the need for workforce training to effectively integrate AI into the economy. The budget also includes a significant investment to boost the stock market, reflecting Singapore's commitment to fostering a robust financial environment alongside its AI initiatives.