Etsy’s Strategy to Minimize Tax Liability

thread-841607_1280Online craft marketplace, Etsy has assured Wall Street that it wants to be transparent in how it plans to handle it’s tax strategy in a new report sent out by the company.

Users from outside the U.S. are now required to enter a terms of service agreement with Etsy Ireland instead of with the Brooklyn-based corporate parent, a change Etsy implemented last month, as Bloomberg reported.

Etsy has also changed the registration status of Etsy Ireland to an unlimited liability company. That means it doesn’t have to report how much tax the business has to pay or how much money is being moved through it.

Find out more at CBS Money Watch.

Photo courtesy of: bluemorphos