The US Treasury Secretary, who has been to the fore in efforts to agree global corporate tax rules, has said the minimum rate of 15% would not be reconsidered.
"I think we have agreed that 15% is the global minimum tax. Now, of course, individual countries may choose themselves to establish a higher tax, but I expect many countries to adopt a 15% tax," Janet Yellen said.
"It works for many countries. I don't think that's something that's going to be reconsidered as a global minimum."
Ms Yellen is in Dublin for a series of engagements expected to focus on the global corporate tax deal endorsed by the G20 over the weekend.
She is a senior figure in the administration of US President Joe Biden.
She was the first woman to chair the US Federal Reserve and to hold her current position of Treasury Secretary.
Ms Yellen's position has also led to high level contacts with Minister for Finance Paschal Donohoe in both his ministerial role and as President of the Eurogroup.
This morning she met with Mr Donohoe and also had a separate meeting with U2 frontman Bono.
She also met executives from US multinationals at an event organised by the American Chamber of Commerce in Ireland.
Secretary Yellen is delivering a keynote address at an event hosted by the Institute for International and European Affairs in Dublin Castle at present.
Janet Yellen interview
US Treasury Secretary Janet Yellen visited Ireland on Monday in between stops at the G20 in Rome and before heading to the COP26 Climate Summit in Glasgow.
During her visit, she held a bi-lateral meeting with Minister for Finance Paschal Donohoe as well as attending an event at Dublin Castle hosted by the Institute for International and European Affairs.
Before leaving for Glasgow, Secretary Yellen sat down with our Economics Correspondent Robert Shortt and discussed the deal on international corporate tax rules, how important it was that Ireland signed on and her take on the current spike in inflation around the world.
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In her speech, she described Ireland as one of the closest allies of the US.
"We see you as a vital bridge in the transatlantic economy. Ireland's signing up to this tax reform deal is critical."
She is expected to fly out this evening to attend the COP26 Climate Summit in Glasgow.
It's a Beautiful Day. pic.twitter.com/m4PI4EOujR
— Secretary Janet Yellen (@SecYellen) November 1, 2021
Earlier, Mr Donohoe described his relationship with Ms Yellen as a very positive and constructive one.
Speaking on RTÉ's Morning Ireland, he said that Secretary Yellen understood that Ireland was not a tax haven because it does not have a very, very low or zero rate of tax for large companies and because Ireland is not outside of international agreements and tax.
Mr Donohoe also said that he was not attending COP26 in Glasgow because he needs to bring the finance bill to the Dáil this week and the Government will be represented by a range of other ministers.
He pointed out that the finance bill includes carbon taxes and it is important that these measures are passed.
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