Group 1 - Malaysia has implemented significant adjustments to the Sales and Service Tax (SST) starting July 1, imposing a 5% to 10% sales tax on non-essential and luxury goods, while expanding the service tax scope [1][2] - The new tax policy aims to broaden the tax base and increase fiscal revenue while selectively avoiding essential goods to mitigate the burden on the general public [1][4] - Luxury items such as imported salmon, high-end fruits, and truffles are taxed at 5%, while high-value collectibles like antiques and luxury cars are taxed at 10%, reflecting the government's consideration of consumer spending capacity [1][2] Group 2 - The expansion of the service tax includes sectors like leasing, construction, financial services, education, and beauty services, addressing long-standing gaps in the tax base [2][3] - The tax reform is part of the "Prosperous Economy" reform framework, emphasizing sustainable fiscal policies and social inclusivity while avoiding taxes on basic necessities [2][4] - Measures have been introduced to alleviate the impact on small and medium-sized enterprises (SMEs), including exemptions for those with rental income below 500,000 MYR (approximately 117,900 USD) [3][4] Group 3 - The additional tax revenue will be allocated to enhance public services, expand cash assistance, and improve infrastructure and healthcare resources, aiming to reduce the budget deficit from approximately 4.3% in 2024 to 3.8% in 2025 [4] - The tax reform is designed to maintain basic government operations while gradually building a more robust tax system, balancing moderate adjustments with progressive reforms [4] - The government asserts that the tax burden will not increase on essential goods for the general public, but higher-income individuals will contribute more to address future economic pressures [4]

Core Insights - FAB Paris, a prestigious decorative arts fair, will take place from September 20 to 24 at the Grand Palais in Paris, welcoming art enthusiasts from China [1][3] - The fair is the only cross-category art and antique fair in Paris, featuring over twenty specialized fields including fine arts, furniture, antiques, and jewelry, established in February 2022 through the merger of two renowned art fairs [1][3] Industry Overview - The event will host 100 art and antique dealers from around the world under the iconic glass dome of the Grand Palais, emphasizing its international appeal [3] - An independent review committee composed of over 60 experts from various fields has been established to ensure the academic standards and professional credibility of the exhibited works, enhancing the fair's authority in the industry [3][5] Quality Assurance - The rigorous selection process for exhibited items has led to many artworks being collected or displayed by major institutions such as the Louvre, Musée d'Orsay, and the Museum of Modern Art in New York, underscoring the fair's reputation for quality [5] - FAB Paris aims to strengthen cultural exchanges between China and France, with aspirations to bring more exceptional cultural and artistic treasures to the Chinese market [5]