Despite transparency claims, Etsy ups secrecy and shifts profits overseas
Found on Ars Technica on Friday, 14 August 2015
In a little-noticed change to the company’s Terms of Use that took effect last month, the online craft retailer has now restructured itself such that it now has an Irish subsidiary, Etsy Ireland, an unlimited liability corporation.
"Translation: We figured out a technically legal way to cut our tax bill, and it doesn't bother us that doing so reduces the ability of our government to fund programs that we otherwise claim to support," he wrote. "We'll get back to you when we've figured out any other 'operational efficiencies' that we might exploit."
That's what people are pushing for though. More and more people are looking at the stock market, and every dollar saved has a positive influence on the shares.