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Taiwan witnessed a whopping monthly rise of nearly 10,000 land value increment tax cases in May with combined tax revenues of NT$800 million (US$26.67 million), according to the statistics from the Ministry of Finance (MOF), to which insiders attribute impulse buys of properties before June 1, 2011 when the luxury tax was imposed on luxury sedans, jewelry, watches and designer clothes as well as luxury properties. Newly licensed vehicles also surged 32.5% or 38,468 units from a year earlier to 156,937 units in the first five months.




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