The Impact of COVID-19 on Formal Firms in Honduras : Evidence from Monthly Tax Returns

The Impact of COVID-19 on Formal Firms in Honduras : Evidence from Monthly Tax Returns

We measure the impact of the COVID-19 (coronavirus) crisis and the resulting lockdown on formal firms in Honduras, using monthly value-added tax records for January 2018 to August 2020. Firms' revenue fell by 26 percent, or 342.6 billion lempi...

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Bibliographic Details
Main Authors: Bachas, Pierre, Brockmeyer, Anne, Semelet, Camille
Format: Brief
Language:English
Published: World Bank, Washington, DC 2021
Subjects:
COVID-19
CORONAVIRUS
PANDEMIC IMPACT
FORMAL FIRM PERFORMANCE
TAX RETURNS
VALUE ADDED TAX
SALES REVENUE
ECONOMIC SHOCK
Online Access:http://documents.worldbank.org/curated/en/326461611769500203/The-Impact-of-COVID-19-on-Formal-Firms-in-Honduras-Evidence-from-Monthly-Tax-Returns
http://hdl.handle.net/10986/35093
id okr-10986-35093
recordtype oai_dc
spelling okr-10986-350932021-04-23T14:02:15Z The Impact of COVID-19 on Formal Firms in Honduras : Evidence from Monthly Tax Returns Bachas, Pierre Brockmeyer, Anne Semelet, Camille COVID-19 CORONAVIRUS PANDEMIC IMPACT FORMAL FIRM PERFORMANCE TAX RETURNS VALUE ADDED TAX SALES REVENUE ECONOMIC SHOCK We measure the impact of the COVID-19 (coronavirus) crisis and the resulting lockdown on formal firms in Honduras, using monthly value-added tax records for January 2018 to August 2020. Firms' revenue fell by 26 percent, or 342.6 billion lempiras (USD 14.3 billion), in real terms between March and August 2020 and the same period in 2019. Sectors subject to stricter containment measures experienced larger revenue losses. The service sector was the most severely affected, experiencing a 45 percent revenue loss. Larger firms experienced smaller revenue losses than smaller firms, even when accounting for the sectoral composition of firm-size groups. A non-negligible number of firms remained shut down until the end of available data in August 2020. 2021-02-02T15:13:12Z 2021-02-02T15:13:12Z 2021-01 Brief http://documents.worldbank.org/curated/en/326461611769500203/The-Impact-of-COVID-19-on-Formal-Firms-in-Honduras-Evidence-from-Monthly-Tax-Returns http://hdl.handle.net/10986/35093 English MTI Practice Notes; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Brief Latin America & Caribbean Honduras
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic COVID-19
CORONAVIRUS
PANDEMIC IMPACT
FORMAL FIRM PERFORMANCE
TAX RETURNS
VALUE ADDED TAX
SALES REVENUE
ECONOMIC SHOCK
spellingShingle COVID-19
CORONAVIRUS
PANDEMIC IMPACT
FORMAL FIRM PERFORMANCE
TAX RETURNS
VALUE ADDED TAX
SALES REVENUE
ECONOMIC SHOCK
Bachas, Pierre
Brockmeyer, Anne
Semelet, Camille
The Impact of COVID-19 on Formal Firms in Honduras : Evidence from Monthly Tax Returns
geographic_facet Latin America & Caribbean
Honduras
relation MTI Practice Notes;
description We measure the impact of the COVID-19 (coronavirus) crisis and the resulting lockdown on formal firms in Honduras, using monthly value-added tax records for January 2018 to August 2020. Firms' revenue fell by 26 percent, or 342.6 billion lempiras (USD 14.3 billion), in real terms between March and August 2020 and the same period in 2019. Sectors subject to stricter containment measures experienced larger revenue losses. The service sector was the most severely affected, experiencing a 45 percent revenue loss. Larger firms experienced smaller revenue losses than smaller firms, even when accounting for the sectoral composition of firm-size groups. A non-negligible number of firms remained shut down until the end of available data in August 2020.
format Brief
author Bachas, Pierre
Brockmeyer, Anne
Semelet, Camille
author_facet Bachas, Pierre
Brockmeyer, Anne
Semelet, Camille
author_sort Bachas, Pierre
title The Impact of COVID-19 on Formal Firms in Honduras : Evidence from Monthly Tax Returns
title_short The Impact of COVID-19 on Formal Firms in Honduras : Evidence from Monthly Tax Returns
title_full The Impact of COVID-19 on Formal Firms in Honduras : Evidence from Monthly Tax Returns
title_fullStr The Impact of COVID-19 on Formal Firms in Honduras : Evidence from Monthly Tax Returns
title_full_unstemmed The Impact of COVID-19 on Formal Firms in Honduras : Evidence from Monthly Tax Returns
title_sort impact of covid-19 on formal firms in honduras : evidence from monthly tax returns
publisher World Bank, Washington, DC
publishDate 2021
url http://documents.worldbank.org/curated/en/326461611769500203/The-Impact-of-COVID-19-on-Formal-Firms-in-Honduras-Evidence-from-Monthly-Tax-Returns
http://hdl.handle.net/10986/35093
_version_ 1764482309888671744

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