Table A.7.
Impact of mandatory e-Invoicing - robustness checks (3/4).
| (1) |
(2) |
(3) |
(4) |
(5) |
(6) |
(7) |
(8) |
|
|---|---|---|---|---|---|---|---|---|
| Taxable | Taxable | VAT | New VAT | VAT | Share of | Employed | Sales per | |
| sales | purchases | liabilities | credits | payments | taxable VA | workers | worker | |
| F. Alternative estimation sample with firms that enter and exit (unbalanced sample) | ||||||||
| Treatment | 0.318∗∗∗ | 0.169∗∗∗ | 0.318∗∗∗ | 0.00152 | 0.209∗∗∗ | −0.00435 | 0.0331∗∗∗ | 0.144∗∗∗ |
| (first year) | (0.0200) | (0.0165) | (0.0233) | (0.0357) | (0.0327) | (0.00473) | (0.00517) | (0.0147) |
| Dummy | 0.692∗∗∗ | 0.408∗∗∗ | 0.789∗∗∗ | −0.344∗∗ | 0.633∗∗∗ | −0.0103 | 0.0558∗∗∗ | 0.286∗∗∗ |
| (a year after) | (0.0606) | (0.0365) | (0.0858) | (0.134) | (0.0763) | (0.0204) | (0.0161) | (0.0371) |
| Constant | 11.59∗∗∗ | 11.59∗∗∗ | 8.343∗∗∗ | 3.986∗∗∗ | 5.886∗∗∗ | 0.695∗∗∗ | 2.800∗∗∗ | 10.09∗∗∗ |
| (0.000890) | (0.000722) | (0.00105) | (0.00161) | (0.00143) | (0.000217) | (0.000256) | (0.000719) | |
| Observations | 1,495,662 | 1,495,662 | 1,495,662 | 1495662 | 1,495,662 | 1,495,662 | 1,285,523 | 1,285,523 |
| G. Alternative using annoucement dates instead of mandatory dates of adoption | ||||||||
| Treatment | −0.0119 | −0.0340∗∗∗ | 0.0140 | −0.0734∗ | −0.0492 | 0.00202 | −0.0131∗∗∗ | −0.00640 |
| (first year) | (0.0127) | (0.0127) | (0.0235) | (0.0439) | (0.0326) | (0.00618) | (0.00417) | (0.0104) |
| Dummy | 0.0611∗∗∗ | 0.0164 | 0.0818∗∗ | −0.0846 | 0.0115 | 0.00258 | 0.00156 | 0.0353∗∗ |
| (a year after) | (0.0202) | (0.0214) | (0.0363) | (0.0678) | (0.0528) | (0.00951) | (0.00713) | (0.0164) |
| Constant | 12.30∗∗∗ | 11.97∗∗∗ | 9.001∗∗∗ | 3.736∗∗∗ | 6.543∗∗∗ | 0.702∗∗∗ | 2.952∗∗∗ | 10.38∗∗∗ |
| (0.00156) | (0.00161) | (0.00289) | (0.00540) | (0.00408) | (0.000763) | (0.000569) | (0.00136) | |
| Observations | 1,010,380 | 1,010,380 | 1,010,380 | 1,010,380 | 1,010,380 | 1,010,380 | 936,527 | 936,527 |
Note: These are results for the balanced sample of firms mandated to adopt e-invoicing before 2019, excluding firms previously caught for fraud. The last two columns drop firms with no reported workers. The inverse hyperbolic sine transformation is applied to all dependent variables, which are originally measured in constant 2014 Peruvian soles. The share of taxable VA is the ratio of taxable to total value added. The treatment indicator is equal to one in the quarter of mandatory e-invoicing adoption and the following four quarters. All specifications include a variable controlling for the fifth and following quarters after the date of mandatory e-invoicing adoption. They also include quarter fixed effects, firm fixed effects, firm-specific linear trends. Firm-clustered standard errors are shown in brackets. ∗ , ∗∗ , ∗∗∗ .