LatinNews Daily - 14 July 2025

*Colombia’s inspector general’s office has opened an investigation into Luis Carlos Reyes, the former director of the tax authority (Dian, 2022-2024), over alleged irregularities in the setting of tax revenue targets in 2024. The inspector general’s office stated that the investigation has been opened due to “a substantial drop of over 10% in the tax take between January and May 2024, a situation which according to diverse analysts could compromise the fulfilment of the fiscal rule” [a rule limiting government borrowing relative to income which was suspended by Finance Minister Germán Ávila Plazas in June]. According to the inspector general’s office, Dian’s tax revenue forecasts were “far removed from the macroeconomic reality”, meaning that tax officials may potentially have committed disciplinary infractions by “disregarding the principles of planning, responsibility, efficiency, and interinstitutional coordination in fiscal management”. In June 2024 Reyes was moved from Dian to serve as minister of trade, industry and tourism (2024-2025) – reportedly amid frustration from then finance minister Ricardo Bonilla (2023-2024) over Dian’s failure to meet tax revenue targets under Reyes’ leadership.

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