Mr Wallace is a tax and legal partner at Deloitte Ireland, with expertise in international tax, tax structuring, mergers and acquisitions, capital taxes and real estate taxes.

The Irish Tax Institute is the leading representative and educational body for chartered tax advisers (CTAs) and Ireland’s only professional body exclusively dedicated to tax.

Mr Wallace, who serves as its 50th president, used his acceptance speech to call on the government to prioritise stability and predictability in the corporate tax regime and ensure economic competitiveness.

“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.

Drawing on his expertise in real estate, he also warned against reactive legislative changes which he said are having knock-on effects in the areas of real estate investment and construction.

He added that the SME sector needs significant support in the upcoming budget, with Ireland’s 33 per cent rate on capital gains tax (CGT) being a “very, very high” starting point 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 Irish Tax Institute would continue to engage with the Department of Finance and Revenue on this matter on behalf of its members.