FORMER US president Bill Clinton has defended Ireland's low corporation tax rate.
His comments came in a wide-ranging interview with Pat Kenny on Newstalk this morning when he was asked about our corporation tax amidst recent accusations that the country is a tax haven.
"You have a right to pay whatever tax you want," he said.
Mr Clinton, who served as the 42nd President of the United States from 1993 to 2001, added that this particularly important when an economy is under pressure, as Ireland's is.
He added that there is also a lot of goodwill towards Ireland in the US and Europe.
Companies like Google and Apple have come under fire recently over how multinationals use Ireland to lower their tax burden.
While the official corporation tax rate is 12.5pc, one of the lowest in Europe, many multinationals pay less than the headline figure.
The European Union has launched a probe into multinational operations in Ireland, the Netherlands and Luxembourg to ascertain if the countries provided any 'sweetheart' deals to international corporations.
"A low corporate tax rate allows you to attract companies that can go anywhere," Mr Clinton said.
"You weren't the only country to do so."
He added that when he was president, the corporate tax was 36pc or close to the international average.
"You know what the average is now? 23pc," he added.
"Not only has the rate gone down but there's been a shift... we need to reform out corporation tax rates ....we don't need to go to Ireland's 12.5pc but we need to look at it," he said.
Commenting on the current situation in the US with the economy in partial shutdown as the Republicans continue to pressurise President Barack Obama to roll back on his 'Obamacare' health plan and refuse to sign off on the budget.
"I think in the end, both sides will see this as calamitous and will agree a deal," he said.
"The truth is the President (Obama) has worked with them from the beginning and he has been reasonable. And the President will prevail with his health care plans. It (a default) would be the height of irresponsibility."
Mr Clinton, however, was less forthcoming about whether his wife Hilary would run for Office in the US and what his role would be if she did.
"I'll do whatever she wants me to do," he said.
"She helped me for 27 years."
Mr Clinton was in Dublin for a dinner hosted by Philanthropy Ireland at the Conrad Hotel.
At it guests were asked to pledge their support for the 'One Percent Difference' campaign which encourages individuals and businesses to to donate 1pc of their time or income to a cause or project of their choice.