S'pore companies to use single identification number from Jan 1

Come January 1 next year, businesses in Singapore will have a Unique Entity Number (UEN) to identify themselves when dealing with all government agencies.

This single identification number will be issued by the Accounting and Corporate Regulatory Authority (ACRA) to all entities registered in Singapore in a move that is aimed at streamlining processes.

Under the new system, a UEN will be issued by ACRA to all entities that have multiple interactions with government agencies by October this year.

About 330,000 or 85 per cent of companies and businesses here will use their current ACRA company registration number as their UEN, while 55,000 entities or 15 per cent of all companies in Singapore will be issued a new number.

These entities include Limited Liability Partnerships (LLPs), foreign companies, societies and management corporations.

Businesses have welcomed the move saying that this would simplify and reduce possible errors caused by the use of multiple numbers. Other government agencies have also echoed the same view.

Source CNA.
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