Etsy (ETSY) Aims to Lower Offshore Taxes with New Subsidiary Structure

Etsy, Inc. (Nasdaq: ETSY) is said to be adopting an offshore tax policy amid the company's claims that it plans to be transparent through and through.

According to Bloomberg, Etsy no longer needs to disclose basic financial information of an Irish subsidiary following a recent change in how the unit is registered. This will allow the company to move more revenue through that subsidiary.

Etsy said last month that anyone selling outside the U.S. would need to register with Etsy Ireland versus the parent company. The company noted that the move will help to lower tax bills and it won't have to report publicly how much revenue the unit is seeing due to its structure as an unlimited liability company.

Shares of Etsy are up 0.8 percent Friday morning.

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