UPDATE 1-Brazil extends auto tax breaks to avert slowdown

Newswire

(Adds comments, cigarette taxes) SAO PAULO, March 30 (Reuters) - Brazil's government on Monday cut taxes on cement, paint and other construction materials and extended tax breaks for the automobile sector, the latest effort to avert a major slowdown in Latin America's largest economy. 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. The tax breaks, which ...

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