Chair of UBC finance committee fights taxman over $1M

Greg Peet, chair of UBC’s finance committee and member of the UBC board of governors, is appealing a Canada Revenue Agency ruling that his company, Veracity Capital, avoided paying more than $1 million in provincial and federal taxes, The Vancouver Sun reported.

“We’re engaged in litigation with the Canada Revenue Agency on behalf of the province for the recovery of taxes that were assessed and paid for in 2003 tax year,” said Peet. “Since it’s before the courts, it’s not appropriate to say anything more than that.”