IN D U ST RY N EW S NEWS IN BRIEF SAUDI ARABIA NEW SERVICES TAX Saudi Arabia has introduced a 15 per cent value added tax on almost all goods and services provided in the kingdom. The move follows a fall in oil revenues during the COVID-19 crisis and is one of a number of measures implemented to shore up the countrys finances. ISS MAKES INCHCAPE PURCHASE Pre-arrival customs checks for cargo A new pre-arrival security and safety programme will be launched by the European Union (EU) next year. It will be handled by the Import Control System 2 (ICS2) and aims to provide an EU-wide, integrated approach to customs risk management. The programme, which includes Switzerland, is scheduled to open on 15 March 2021. Those involved in the handling, shipping and transporting of cargo, express or postal shipments will need to provide safety and security to the system in advance through an Entry Summary Declaration. According to a European Commission press release, firms should prepare by adapting their business processes, taking steps to ensure high-quality and precise data is provided, developing or updating their IT systems for exchange of information, and providing training and support to their staff. If the necessary data has not been submitted to ICS2, consignments and cargo will be stopped at EU Customs borders, and customs will not proceed with goods clearance. It should also be noted that poor-quality declarations will either be rejected or subject to unnecessary interventions, and may result in sanctions for non-compliance. SIRVA/CARTUS COURT PAPERS RELEASED SIRVAs owners have accused Realogy Holdings Group of trying to embarrass it, in court documents released during June, regarding its US$400m deal to acquire Cartus. According to Bloomberg Law, the court papers from Madison Dearborn Partners (MDP) said: Realogy sued MDP under the purchase agreement and immediately boasted about it in a press release. They added that Realogy had changed its tune, but the damage had been done. Meanwhile, Realogy has announced it is looking to raise $550m in capital. The court case surrounds SIRVAs agreement to buy Cartus, made in November 2019, and the formers subsequent allegation that COVID-19 has affected Cartus and would not be able to fulfil the conditions of the deal. It also alleged that Realogy is close to insolvency. A decision was pending as FIDI Focus went to press. 14 FF298 AugSept20 pp12-15 News.indd 14 Middle East-based ISS Relocations, not affiliated to FIDI, has acquired Inchcape Worldwide Movers, the removals division of global port and marine services provider Inchcape Shipping Services. ISS Relocations operate in the UAE (Dubai and Abu Dhabi), Oman, Qatar, Bahrain, Kuwait, India and Saudi Arabia, and are members of the International Association of Movers and the British Association of Removals. ISS Relocations said that the acquisition reflects a decision to solidify our presence and expand market share. NEW YORK SEES EXODUS A report of movers in New York City states that an increasing number of people are opting to leave the city. According to a Fox Business interview with United Van Lines Chief Executive Officer Marc Rogers, there had been a 40 per cent increase in enquiries from people wanting to leave. The report added that 25 per cent of leads were from people in the 25-40 age range and 61 per cent of them were earning more than US$100,000. FIDI HOSTS COVID-19 WEBINAR SERIES FIDI hosted a series of webinars to help Affiliates navigate the early stages of the COVID-19 pandemic. The online events focused on the immediate impact of coronavirus on the industry and reactions by key players; strategic changes businesses should make to adapt; and how moving and relocation companies can make the most of the next generation of talent to develop and thrive. The sessions included questions from the audience, and the webinar series is available on FIDIs YouTube channel. WW W. F I D I FOC U S . OR G 21/07/2020 11:29