Solicitor Shane Wallace tax institute’s 50th president
Solicitor Shane Wallace became the Irish Taxation’s Institute’s 50th president at its annual general meeting yesterday (4 September).
Wallace is a tax and legal partner at Deloitte Ireland, with expertise in international tax, tax structuring, mergers and acquisitions, capital taxes, and property taxes.
In his acceptance speech, he 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.
‘Reliable and transparent’
Wallace also urged the Government to avoid what he called “reactionary” legislative changes that were having knock-on effects on property 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.
The new ITI president added that the SME sector needed significant support in Budget 2026, saying that Ireland could do more to encourage and incentivise investment.
‘Disarray’
“For example, we pride ourselves on being competitive on tax, yet we have a 33% rate on capital gains tax (CGT). We do have reliefs but, as a starting point, that rate is very, very high compared to other OECD countries,” he stated.
Wallace said that the rules governing the taxation of the world’s largest companies had been “plunged into disarray” because of the US stance on reform of the international tax system.
He added that the institute would continue to engage with the Department of Finance and Revenue on this issue on behalf of its members.