UPDATE 1-Mexico to dump car tax to spur domestic sales

Newswire

* Calderon to dump annual car tax by end of 2011 * Govt to partially absorb taxes on new cars in short term (Releads, adds detail, quote) MEXICO CITY, June 24 (Reuters) - Mexico will cut taxes on new car purchases to support a key sector of the economy and will eventually eliminate the annual automobile tax, President Felipe Calderon said on Thursday. Calderon said the yearly car tax, originally imposed to raise funds for for the Olympic Games hosted by Mexico in 1968, will be stopped ...

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