VAT on House Construction

I know that this practice is way too old. VAT on House Construction?

Silly as it may seems, but this is the law on the Philippines. If you wanna built a house worth a Million prepare to shell out an extra 12% for the VAT. That's a whopping extra 120,000.00,which you could easily use to buy a second hand car or you can use it further beautify or enhance the features of the house you wanna built.

The Government or the Lawmakers are really smart in finding ways to get new funds for their budget.

It may be applicable about twenty years ago, when construction materials are still cheap. Only then that the Millionaires will be affected by VAT, VAT is just a small amount for them.

But during these thriving days wherein almost every basic commodities prices skyrocketed, I think it's not applicable for now.

The Fuel prices are unstable, prices of construction materials have doubled since the start of the year. Price of your dream house is way too high.

I think it's high time that the lawmakers amend this Law or give it a new price ceiling which is more helpful to the general public.

They should remember that a House is not a luxury but a basic need. Think about it.