UPDATE 1-Brazil to extend auto industry tax breaks-source

Newswire

(Adds comment, automobile sales) BRASILIA, March 27 (Reuters) - Brazil's government will announce in the coming days the extension of tax breaks for the automobile industry that were set to expire next week, a source at the presidential palace said on Friday. The government slashed industrial taxes on new cars in December in a bid to prop up sales and prevent massive layoffs as demand for automobiles plunged because of a credit crunch. "All things point to an announcement on Monday," ...

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