Colombia’s tax authority (DIAN) and Ministry of Finance are preparing a new tax reform proposal, marking the government’s fifth attempt. The plan centers on a progressive tax on wealth, meaning higher taxes for wealthier individuals. Additionally, the proposal includes increases to income tax rates. Details remain forthcoming, but the reform aims to bolster government revenue through adjustments to existing tax structures. This latest iteration seeks to address previous concerns and gain legislative approval. The government hopes the changes will contribute to fiscal stability and fund key public programs. The proposal is expected to be presented to Congress for debate and potential enactment soon.