Criticism of Spotify not think his fans deserved the low quality they were receiving, and said it was bad for his music. Young's music has since returned to Spotify and other streaming services. In response, Spotify claims that they are benefiting the music business by "migrating them away from piracy and less monetized platforms, and allowing them to generate far greater royalties than before" by offering a free, ad-supported service tier, and then encouraging users to opt into the paid subscription. In June 2012, Charles Caldas, CEO of the Merlin Network (a representative body for over 10,000 independent labels), clarified that Spotify pays
International Financial Services Centre International Financial Services Centre The International Financial Services Centre (or IFSC) began in 1987 as a special economic zone on a derelict 11 hectare site near the centre of Dublin, with EU approval to apply a 10% corporate tax rate for designated financial services activities on the site. Before the expiry of this EU approval in 2005, the Irish Government legislated in 1998/99 to effectively "turn the entire country into an IFSC" by reducing the overall Irish corporate tax rate from 32% to 12.5% (full effect by 2003). The legal requirement for a specific IFSC geographic area was thus removed,