@TechReport{iza:izadps:dp15968,
            	author={Goncalves, Judite and Merenda, Roxanne and Santos, João Pereira dos},
            	title={Not So Sweet: Impacts of a Soda Tax on Producers},
            	year={2023},
	month={Feb},
            	institution={Institute of Labor Economics (IZA)},
            	address={Bonn},
            	type={IZA Discussion Paper},
            	number={15968},
            	url={https://www.iza.org/publications/dp15968},
	abstract={Portugal introduced a sugar-sweetened beverages (SSB) tax in 2017. This study uses unique administrative accounting data for all SSB producers/importers in Portugal, and an event study design with bottled water firms as the primary comparison group, to assess the causal impacts of the tax on multiple firm-level outcomes. We find a 6.8% average decrease in domestic SSB sales, vis-à-vis bottled water. The soda tax hindered SSB firms' financial health, namely net income, ability to convert receivables into cash, and liabilities. SSB producers/importers did not decrease wages, cut jobs, or modify their workforce towards higher R&D capacity. Forgone corporate income tax appears negligible compared to the government revenue generated by the tax itself.},
	keywords={sin taxes;firm-level;soda tax;sugar tax},
            }