The Ministry of Finance (MoF) has proposed that the government extend the payment deadline for special consumption taxes on domestically-manufactured and assembled automobiles during the tax period from June to September this year.

Payments for June, July, August, and September will be extended, but to no later than November 20.

The total amount of taxes subject to the extension is estimated at around VND11 trillion ($464 million).

The MoF said the extension would help local automobile manufacturers overcome the ongoing difficulties.

Figures from all 12 local automobile manufacturers show that the number of domestically-manufactured and assembled vehicles and the amount of special consumption taxes have continued to fall.

The number of automobiles registered last October was 25,571, with special consumption taxes of over VND3.88 trillion ($163 million) paid. These then declined to 23,568 and VND3.4 trillion ($143 million) in November, and 9,766 and VND1.77 trillion ($75 million) in January.