Revenue generated from stamp duty in 2016 fell to about $4.8 million, according to Karen Smith-Aaron, commissioner of the Inland Revenue Department.

Last year’s revenue estimates indicate that number contrasts strongly from two years before, when government collected nearly $16.2 million from stamp duty on the transfers of properties in the territory.

That document also estimates that the tax raised about $6.5 million in 2015.

Despite the downward spike, there is no reason to worry about a negative trend, Ms. Smith-Aaron explained. The rate of property transfers and sales tends to fluctuate from year to year, generating different amounts of revenue, and 2014’s number was an especially high total, she said.

Stamp tax evasion is also not a big worry, according to the commissioner, because one cannot transfer property to another name without paying the duty.

However, she did mention that the department has had minor issues with people undervaluing their properties in recent years.

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