After being accused of fleeing Canada to avoid tax hikes, ECN Capital’s Steve Hudson denied such claims through a spokesman, Canada’s Business News Network reported.
The original claim originated from a BNN interview with Cargojet CEO Ajay Virmani, who said he knew of at least six individuals who were moving to Ireland or Florida in order to avoid a 56% tax.
BNN noted that Hudson is still a Canadian resident, but has spent “a lot of time” in Florida following the acquisition of a company in the state.
The spokesman for ECN told BNN that “We do a ton of business in the U.S. and Mr. Hudson spends a lot of time there, but he is not leaving Canada.”
Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!