Tax Revenue
The Autonomous Fiscal Rule Committee (Carf) warned that net tax revenue in 2025 will be 8.3 trillion pesos below the DIAN's target. In its November report, Carf reviewed fiscal projections with data up to October, noting primary spending exceeding forecasts. This creates budgetary pressures that could extend into 2026.
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The Free State of Bavaria anticipates a slight tax revenue increase of around 1.5 billion euros in 2026 compared to the May forecast for 2025. Finance Minister Albert Füracker cautions against euphoria and calls for strict spending discipline. The projection stems from the federal October tax revenue estimate.