Mexican Benchmark Bonds Fall After Calderon Presents Tax Bill to Congress

(Bloomberg) -- Mexico's benchmark 20-year bonds fell
from a two-week high on concern that President Felipe Calderon's
proposal to boost tax collection will run into more opposition in
congress than investors had anticipated.

Part of the bill, which Calderon presented to congress late
yesterday, would limit the tax deductions companies can take by
introducing a flat income tax rate. That measure may spark
opposition from business groups that could drag out the approval
process in congress.


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