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The scheme also included fraudulent confidential stamp tax affidavits and fake mortgages, all of which contained forged notary signatures and seals, according to prosecutors.

A member of Parliament, arguing against the stamp tax, said that the colonists, who had no representatives in Parliament, were being burdened with a tax they had not voted on.

The state’s housing programs are paid for with revenue from the doc stamp tax paid on all real estate transactions, according to the coalition.

Ricketts criticized the measure Thursday in a news conference with Nebraska realtors and home builders, who oppose parts of the bill that could raise documentary stamp taxes on real estate.

With relatively low income and business taxes, in keeping with the territory’s laissez-faire financial identity, Hong Kong instead gets more than one-third of its revenue from land sales and a “stamp tax” on property transactions.