Under scrutiny: The Attorney General's Office will investigate Luis Carlos Reyes for his management of the Dian.

The Attorney General's Office announced this Friday, July 11, that it has opened a disciplinary investigation against the former director of the National Tax and Customs Directorate (DIAN), Luis Carlos Reyes, for alleged irregularities in the formulation and monthly calculation of tax collection targets for 2024.

The process also involves David Gustavo Suárez Castellanos, deputy director of Economic Studies for the entity, and Guillermo Alberto Sinisterra Paz, director of Strategic Management and Analytics, and will seek to prioritize whether these officials ignored the warnings regarding their revenue projections while they were in the entity.

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The disciplinary action, led by the Deputy Attorney General's Office for the Economy and Public Finance, arose after a substantial drop in revenue between January and May 2024, exceeding 10% compared to the same period the previous year. The agency explained that "this gap raised alarm bells among tax experts and the government itself, as it could compromise compliance with the fiscal rule, a rule that requires the state to maintain certain levels of sustainability in its budget management."

According to the information gathered by the oversight body, the goals were allegedly constructed with assumptions that were far removed from macroeconomic reality and lacked proper technical support, raising questions about the quality of planning within the entity. Furthermore, its preliminary analysis assesses whether officials lacked technical rigor, lacked knowledge of planning principles and fiscal responsibility, and ignored warnings issued by the Ministry of Finance.

This investigation, requested by opposition groups on several occasions, calls into question one of the pillars of the national government's economic policy: the tax collection projection and monitoring system, which serves as the basis for estimating revenue, formulating budgets, and setting spending limits.

For the authorities, an overestimation without solid foundations can distort the perception of fiscal availability and compromise key investment and financing decisions; which is why they will review it.

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Luis Carlos Reyes took over as head of the Dian in August 2022 as part of the Petro administration's efforts to modernize tax administration, given his technical background and close relationship with Minister José Antonio Ocampo gave him institutional support in his early months.

However, over time, the entity's projected revenue goals began to come under scrutiny from analysts, unions, and technical bodies such as the Autonomous Committee for Fiscal Rules (CARF), which at the time warned about overly optimistic assumptions in official calculations.

Among the main concerns is the fact that, despite the slowing economic environment, projected increases in tax collection failed to materialize, especially in the first months of the year. This situation was reported in internal documents from the Ministry of Finance, which warned of the need to adjust targets and adopt timely corrective measures, according to the Attorney General's Office.

In addition to the fiscal impact, the drop in revenue has impacted the government's cash flow , the fulfillment of financial commitments, and the implementation of social programs. It has also led the Treasury to turn more frequently to sources of financing such as short-term refinancing instruments (TCOs), generating new tensions in the debt market.

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The Attorney General's Office will now assess whether the DIAN officials committed disciplinary offenses in the performance of their duties and whether they were negligent, reckless, or disregarded technical warnings. If merits are found, administrative sanctions could be applied, ranging from suspension to disqualification from holding public office.

The file is still in its preliminary stages, but it reflects the underlying need to strengthen technical fiscal projection systems, protect them from political bias, and ensure effective coordination between key state entities.