Kilkenny native begins prestigious national leadership role

Kilkenny man Shane Wallace became the 50th President of the Irish Tax Institute on Thursday.

Mr Wallace is also a tax and legal partner in Deloitte and has called on the Government to prioritise stability and predictability in the corporate tax regime and ensure economic competitiveness.

He said that consistency was critically important at a time of global geo-political volatility, noting that uncertainty in Ireland was a big impediment for investors.

Mr Wallace, whose area of expertise includes real estate, said the Government must avoid reactionary legislative changes which are having knock-on effects in the area of real estate investment and construction. 

“At a time when international rules are shifting, Ireland must reinforce its reputation as a reliable and transparent jurisdiction - one where investors can make long-term decisions with confidence,” he said.

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He added that the SME sector needed significant support in Budget 2026: “We can do more to encourage and incentivise investment. For example, we pride ourselves on being competitive on tax, yet we have a 33% rate on capital gains tax. We do have reliefs but as a starting point that rate is very, very high compared to other OECD countries.”

Mr Wallace said the Government needed to “enhance Ireland’s attractiveness as a location for FDI and create the right environment for an ambitious, innovative and export-oriented SME sector while bolstering safeguards for taxpayers and increasing efficiency in the tax collection system.”

He said it was regrettable that the rules governing the taxation of the world’s largest companies are extremely uncertain at present but added that the Institute would continue to engage with the Department of Finance and Revenue on this matter on behalf of its members.

Mr Wallace said that the upcoming Global Tax Policy Conference in October, hosted jointly by the Institute and the Harvard Centre for International Development, would serve as a platform for leading experts, policymakers and practitioners from around the world to discuss these very challenges, as well as broader issues of fairness, compliance and sustainability.

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