Shane Wallace warns that Ireland must act decisively and ‘control the controllables’

The President of the Irish Tax Institute has said that it is critical that, in the midst of a turbulent geo-political climate, Irish businesses can rely on certainty and a simplified tax code, adding that we must remain competitive as a nation.

Speaking at the Institute’s Annual Dinner, Shane Wallace said that significant recent changes to our tax regime driven by the EU and OECD have added massive complexity to an already complicated tax regime.

He said: “In such an environment, certainty, simplification and competitiveness at home become not just desirable, but essential. We need to control the controllables.

“As an open economy we need inward investment for businesses to thrive, for jobs to be created, for houses to be built and to ultimately make this an even better country to work and live in.

“And to do that we need a clear, coherent and predictable tax policy framework. This generates trust in Ireland as a place to invest and build long-term plans. Consistency and certainty are the bedrock for long-term investment. If we keep changing that foundation, investors will look elsewhere.”

Mr Wallace, who is a Tax and Legal Partner with Deloitte, also emphasised the complexity in the corporation tax return, noting that the CT1 form has gone from “around 20 pages to just over 60” in a little over 15 years. He said this represented a significant administrative burden for small firms which must be addressed.

He also highlighted the profound concerns of Institute members regarding proposed changes in respect of the Tax Appeals Commission. “Hundreds of members responded to the Institute’s survey on this matter which found that there are profound concerns about privacy and the effective functioning of the tax system should the proposed amendments in relation to public hearings proceed.

“Removing the entitlement of a taxpayer to have an appeal case in private would undoubtedly become a deterrent to many taxpayers bringing an appeal which has obvious implications for the balance of power in our tax system.”

Mr Wallace took the opportunity to welcome measures included in Budget 2026, such as the reduced VAT rate on apartment construction and sale, and the reformed R&D tax credit.

He concluded by stating that he was optimistic about Ireland’s future, reiterating that, “with simplification, certainty and a laser focus on competitiveness, we can meet the challenges ahead and seize the opportunities they present”.