Updated on 31 August 2026, the Enterprise Innovation Scheme (EIS) webpage now reflects significant enhancements announced in Budget 2026. The scheme introduces artificial intelligence (AI) adoption as a new qualifying activity, allowing businesses to claim enhanced tax deductions or convert expenditure into cash payouts for AI implementation costs. Additionally, the content updates all references from “SkillsFuture Singapore” to the newly formed “Skills and Workforce Development Agency,” following the merger of SkillsFuture Singapore and Workforce Singapore effective 1 July 2026. The Sectoral AI Centre of Excellence for Manufacturing has also been added to the list of qualified partners, broadening the ecosystem of approved innovation collaborators.
Key Takeaways
- AI Adoption Incentivized: Businesses investing in AI technologies can now qualify for EIS benefits, including 400% tax deduction or cash conversion on the first $100,000 of qualifying expenditure per Year of Assessment.
- Qualified Partner Network Expanded: The inclusion of the Sectoral AI Centre of Excellence for Manufacturing provides more collaboration pathways for manufacturing firms pursuing digital transformation.
- Agency Reference Updates: All EIS guidance now reflects the Skills and Workforce Development Agency, ensuring alignment with Singapore’s refreshed workforce development architecture post-merger.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement