The Argentine government introduced a controversial tax on the wealthiest citizens, receiving 74% of the expected 223 billion pesos ($2.4 billion). Initial figures show that 10,000 people worth more than 200 million pesos pay this new tax, at a rate of up to 5.25% of the value of their assets.
As Latin America struggles to recover from the worst recession in two centuries, the tax on the rich has gained widespread support locally, but some of the country’s billionaires have resisted paying until the April 16 deadline. Some 220 taxpayers, including the family of the late legendary soccer star Diego Maradona and another soccer star, Carlos Tevez, have gone to court alleging that the tax on the rich is confiscatory or unconstitutional, and if the judicial system rules against the tax on the rich, it will be a major setback for the government, which may have to return the tax money.
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