The 17 biggest Money stories of the year

From a feisty Environment chief getting the boot and glitches plaguing major ATMs to a highly anticipated subway project and a third telco player seen to rival the so-called "duopoly," the Philippine economy and the business sector never ran out of their fair share of big — sometimes controversial — stories for 2017.

Perhaps the biggest economy-related story this year, Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) was signed into law, and every step of the measure's journey from Congress to President Rodrigo Duterte's desk was closely monitored by the media.

The landmark measure will exempt those earning below P250,000 a year from paying income tax and lower the personal income tax rates but at the same time increase excise taxes on petroleum products, automobiles, sugar-sweetened beverages, and tobacco.

The government's crackdown on erring taxpayers led to the biggest tax settlement in history with local cigarette maker Mighty Corp. paying the government more than P30 billion for supposed fake tax stamps on its products.

And 2017 was also the year President Rodrigo Duterte compelled tycoon Lucio Tan to pay Philippine Airlines' obligations amounting to around P7 billion.

Popular transport network vehicle service and ride-hailing firm Uber suffered a road block this year after being slapped with a P5-million fine by the Land Transportation Franchising and Regulatory Board for various violations.

This year, the Philippine peso declined further and hit its lowest in 11 years as monetary policy tightening in the world's biggest economy dragged the local currency.

 — MDM, GMA News