What is an SSIC Code?
SSIC Code in Singapore
A Singapore Standard Industrial Classification Code (SSIC) is a number assigned to classify one’s business activities that are carried out in Singapore.
What is the aim of a SSIC Code?
SSIC codes in Singapore are used by the government primarily for statistical purposes, as well as to help with the regulation and governance of companies.
SSIC are regularly reviewed and updated if needed. This is done with the aim of ensuring that these codes reflect and stay updated in the areas listed below:
- Aligned with the changes in international standards
- Updates on significant changes in the economy
- Remaining updated regarding emerging activities
ACRA can use this code to determine if any additional licenses are required for the business activity carried out by the company.
IRAS can also use this code to determine if specific tax benefits apply to the company.
IRAS can also use this code to determine if specific tax benefits apply to the company.
