Wealth Tax Sends Argentina’s Rich to Court in Last-Minute Fight

A flood of legal challenges await Argentina as it attempts to fix its strained public finances with a new tax hitting the country’s wealthy.

Several dozen taxpayers have filed injunctions to avoid paying the one-off tax of up to 5.25% of individuals’ net worth, depending on whether their assets are in Argentina or abroad. Only taxpayers worth more than 200 million pesos ($2.2 million) are liable. Payment of the tax, approved last December, is due Friday.

“As the deadline approaches, we are going to see thousands of cases,” Cesar Litvin, head partner at Lisicki Litvin y Asociados, said. ...