Singapore eyes corporate tax rise, AI investment in 2024 Budget

Singapore eyes corporate tax rise, AI investment in 2024 Budget

FILE PHOTO: View of the skyline in Singapore January 27, 2023. REUTERS/Caroline Chia/File Photo

Singapore is set to raise corporate taxes on multinationals from the start of next year while it will beef up efforts to become an artificial intelligence hub, Finance Minister Lawrence Wong said Friday, as he announced the city-state’s 2024 budget.