Interest Remission on Local Gov't Debts

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Republic Act No. 205: Interest Remission on Local Gov't Debts

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Title Supreme Court: Interest Remission on Local Gov't Debts

Law: Republic Act No. 205

Decision Date: May 28, 1948

Republic Act No. 205 provides financial relief to provincial, city, and municipal governments in the Philippines by remitting interest accrued on their obligations to the National Government or government-owned or controlled corporations during the specified period, and extending the payment period, allowing these governments more time to fulfill their obligations.

local government units

interest remittance

financial relief

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