PENGARUH RETURN ON ASSETS (ROA) DAN DEBT TO ASSETS RATIO (DAR) TERHADAP TAX AVOIDANCE DENGAN GLOBAL MINIMUM TAX SEBAGAI VARIABEL MODERASI DAN UKURAN PERUSAHAAN SEBAGAI VARIABEL KONTROL(Studi Empiris pada Perusahaan Multinasional di BEI Periode 2021–2025)
DOI:
https://doi.org/10.54314/jssr.v9i4.6808Keywords:
return on assets, debt to assets ratio, tax avoidance, global minimum tax, ukuran perusahaanAbstract
This study aims to examine the effect of Return on Assets (ROA) and Debt to Assets Ratio (DAR) on tax avoidance, as well as the moderating role of the Global Minimum Tax (GMT) in multinational companies listed on the Main Board of the Indonesia Stock Exchange during the 2021–2025 period. This study employs a quantitative approach using panel data regression analysis. The sample consists of multinational companies selected through purposive sampling, and the data are analyzed using the Fixed Effect Model (FEM). Tax avoidance is measured using the Effective Tax Rate (ETR), while firm size is included as a control variable. The results indicate that Return on Assets (ROA) has a significant negative effect on tax avoidance, whereas Debt to Assets Ratio (DAR) has a significant positive effect on tax avoidance. Furthermore, the Global Minimum Tax (GMT) weakens the effect of Return on Assets (ROA) on tax avoidance and strengthens the effect of Debt to Assets Ratio (DAR) on tax avoidance. These findings provide empirical evidence that the implementation of the Global Minimum Tax (GMT) has influenced the relationship between corporate financial characteristics and tax avoidance among multinational companies in Indonesia.
Downloads
References
Adriani, N. (2018). Tax avoidance, managerial ownership, and agency conflicts. Grou, 23529(2), 1–45.
Aning, F. (2024). Buku ajar analisis laporan keuangan. Malik Rizki Amanah.
Arnawati. (2019). Manajemen Keuangan Perusahaan. Salemba Empat.
Arnawati putri, G. (2019). Monograf Pengaruh Leverage Terhadap Manajemen Laba dengan Corporate Governance. Penerbit Lakeisha.
Arnold, B. J. (2019). International Tax Primer. Kluwer Law Internasional B.V.
Bauer, T., Kourouxous, T., & Krenn, P. (2018). Taxation and agency conflicts between firm owners and managers: a review. Business Research, 11(1), 33–76. https://doi.org/10.1007/s40685-017-0054-y
Berk, J., & Peter, D. (2023). Corporate Finance. Pearson Education Limited.
Dilaga, T. P., & Daryatno, A. B. (2025). Global Minimum Tax : Implications Multinational Corporations and Recommendations for. 6(04), 3968–3980.
Duhoon, A., & Singh, M. (2023). Corporate tax avoidance: a systematic literature review and future research directions. LBS Journal of Management & Research, 21(2), 197–217. https://doi.org/10.1108/lbsjmr-12-2022-0082
Eka, D., Prameswari, A., & Yani, A. (2025). Apakah ROA , Leverage , Good Corporate Governance , Ukuran Perusahaan , dan Kompensasi Rugi Fiskal Berperan dalam Tax Avoidance ? 9(2). https://doi.org/10.18196/rabin.v9i2.25551
Fahmi, Z., & Naibaho, E. A. B. (2025). The Impact of Profitability, Firm Size, and Leverage on Tax Avoidance: Moderating Role of Parent Company Location. Advances in Management and Applied Economics, 15(3), 21–44. https://doi.org/10.47260/amae/1532
Gabriella, G., & Lin, O. (2024). Leverage, Profitability and Tax Avoidance: Transfer Pricing as a Moderating Variable. Asian Journal of Economics, Business and Accounting, 24(12), 318–332. https://doi.org/10.9734/ajeba/2024/v24i121611
Gujarati, D. ., & Porter, D. . (2009a). Basic Econometrics (5th ed.). McGraw-Hill/Irwin, New York.
Gujarati, & Porter, D. . (2009b). Basic Econometrics.
Hanlon, M., & Shane, H. (2010). A review of tax research. 3(2), 127–178.
Hapsoro, D. D., Karina, D. S., Darmawan, M., Wahono, P., & Pahala, I. (2024). The Influence of Profitability , Leverage , Sales Growth , and Book Tax Differences on Corporate Tax Avoidance. 12(2), 258–267.
Hendayana, Y., Arief Ramdhany, M., Pranowo, A. S., Abdul Halim Rachmat, R., & Herdiana, E. (2024). Exploring impact of profitability, leverage and capital intensity on avoidance of tax, moderated by size of firm in LQ45 companies. Cogent Business and Management, 11(1). https://doi.org/10.1080/23311975.2024.2371062
Herry. (2021). Keuangan Perusahaan: Teori dan Aplikasi. Mitra Wacana Media.
Hs, S., & Anlia, via lita bethry. (2021). Kinerja Keuangan Perusahaan Jakarta Islamic Index Di Masa Pandemi Covid-19. Penerbit Insania.
Jensen, M., & Meckling, W. (1976). Theory of the firm: Managerial behavior, agency costs, and ownership structure. The Economic Nature of the Firm: A Reader, Third Edition, 283–303. https://doi.org/10.1017/CBO9780511817410.023
Johannesen, N. (2022). The global minimum tax. Journal of Public Economics, 212, 104709. https://doi.org/10.1016/j.jpubeco.2022.104709
Josafat, R., & Febrianti, M. (2023). Pengaruh Leverage, Ukuran Perusahaan Dan Faktor Lainnya Terhadap Penghindaran Pajak. E-Jurnal Akuntansi TSM, 3(3), 27–36. https://doi.org/10.34208/ejatsm.v3i3.2186
Josephine. (2025). PENGARUH PROFITABILITAS, LIKUIDITAS, DAN LEVERAGE TERHADAP PENGHINDARAN PAJAK DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL KONTROL Diah. 26(01), 1–8.
Lailatus Sa’adah, Muhammad Rifqy Nurarifin, & Nur Aidah Fitriana. (2024). Analisis Rasio Profitabilitas Sebagai Alat Ukur Kinerja Keuangan PT Bank Central Asia. Lokawati : Jurnal Penelitian Manajemen Dan Inovasi Riset, 2(5), 144–155. https://doi.org/10.61132/lokawati.v2i5.1188
Ling, C. C., & Fung, C. Y. (2024). Nexus between profitability , firm size and leverage and tax avoidance : evidence from an emerging economy. 32(5), 759–780. https://doi.org/10.1108/ARA-08-2023-0238
Luh, N., & Pradnya, R. (2022). Factors Impact in Tax Avoidance Practices Before and During The COVID-19 Pandemic. 5(August), 305–315.
Maryam, S., & Dewanti, Y. R. (2022). Pengaruh Profitabilitas dan Kepemilikan Keluarga Terhadap Penghindaran Pajak. Jurnal Ilmiah Publika, 10(2), 210–220.
Mukhtaruddin, & Imelda. (2025). EFEKTIVITAS GLOBAL MINIMUM TAX DALAM MENGURANGI PRAKTIK PENGHINDARAN PAJAK OLEH PERUSAHAAN MULTINASIONAL : KAJIAN SYSTEMATIC LITERATURE REVIEW " Fakultas Ekonomi , Universitas Sriwijaya , Palembang , Indonesia Email : 01042682428005@student.unsri.ac.id Pe. 6(1).
Neltiani, A., Rusliyawati, R., & Astarani, J. (2025). Determinants of tax avoidance with firm size as a moderating variable. Educoretax, 5(5), 594–609. https://doi.org/10.54957/educoretax.v5i5.1549
OECD/G20. (2023). Minimum Tax Implementation Handbook (Pillar Two).
Ovonji-Odida, H. I. (2024). State of Tax Justice 2024. Tax Justice Network, November, 26.
Pijnenburg. (2022). THE PREDICTED EFFECT OF THE GLOBAL MINIMUM TAX RATE.
Prasatya, R. E., Mulyadi, J., & Suyanto, S. (2020). Karakter Eksekutif, Profitabilitas, Leverage, dan Komisaris Independen Terhadap Tax Avoidance Dengan Kepemilikan Institusional Sebagai Variabel Moderasi. Jurnal Riset Akuntansi & Perpajakan (JRAP), 7(02), 153–162. https://doi.org/10.35838/jrap.v7i02.1535
Pratiwi, W., & Rachmat, R. A. H. (2025). Director with foreign experience, CSR, profitability, leverage on tax avoindance: Firm size as moderate. Educoretax, 5(5), 660–674. https://doi.org/10.54957/educoretax.v5i5.1591
Putra, A. F., Nurcahya, D. P., Shafir, A. F., & Riantika, R. L. (2025). The Effect of Profitability and Leverage on Tax Avoidance with Company Size as a Moderating Variable. Proceeding International Conference on Accounting and Finance, 3, 257–265.
Putri, S. A., Yuliafitri, I., Ekonomi, F., & Padjadjaran, U. (2024). Pengaruh Profitabilitas , Leverage , Pertumbuhan Penjualan dan Ukuran Perusahaan terhadap Penghindaran Pajak Sumber : Data diolah peneliti , Badan Pusat Statistik Tabel 1 menunjukkan realisasi penerimaan negara Indonesia masih mengandalkan penerimaan perp. 4(3), 1499–1514.
Rahayu, S. (2022). Liquidity , Leverage , Tax Avoidance : The Moderating Role Of Firm Size Tax Moderating Role Of Firm Size Avoidance. February. https://doi.org/10.37641/riset.v4i1.135
Reck, D., & Bomare, J. (2022). Different From You and Me: Tax Enforcement and Sophisticated Tax Evasion by the Wealthy. LSE Public Policy Review, 2(4), 1–17. https://doi.org/10.31389/lseppr.71
Safitra, I. N., & Totanan, C. (2025). The Effect of Capital Intensity, Profitability, and Leverage on Tax Avoidance. International Journal of Science and Society, 7(1), 651–665. https://doi.org/10.54783/ijsoc.v7i1.1375
Safitri, D. (2024). Determination of Tax Aggressiveness in the Mining Sector in Indonesia. Accounting Analysis Journal, 13(2), 76–84. https://doi.org/10.15294/aaj.v13i2.1892
Simanjuntak, jontro. (2019). Dimensi Ekonomi Perpajakan dalam Pembangunan Ekonomi (edisi n). Penerbit Raih Asa Sukses.
Sopiyana, M. (2022). the Effect of Leverage and Firm Size on Tax Avoidance With Profitability As Moderating. SCIENTIFIC JOURNAL OF REFLECTION : Economic, Accounting, Management and Business, 5(1), 29–37. https://doi.org/10.37481/sjr.v5i1.422
Sulaeman, R. (2021). Pengaruh Profitabilitas, Leverage dan Ukuran Perusahaan Terhadap Penghindaran Pajak (Tax Avoidance). Syntax Idea, 3(2), 354–367. https://doi.org/10.46799/syntax-idea.v3i2.1050
Sunarto, S., Widjaja, B., & Oktaviani, R. M. (2021). The Effect of Corporate Governance on Tax Avoidance: The Role of Profitability as a Mediating Variable. Journal of Asian Finance, Economics and Business, 8(3), 217–227. https://doi.org/10.13106/jafeb.2021.vol8.no3.0217
Tanko, U. M. (2020). The moderating effect of profitability on the relationship between ownership structure and corporate tax avoidance in Nigeria listed consumers goods firms. International Journal of Business and Technopreneurship, 10(2), 153–172.
Tiara, B., & Nurdin, F. (2025). Ukuran Perusahaan Sebagai Variabel Moderasi Dalam Determinan Pengungkapan Tax Avoidance. E-Jurnal Akuntansi, 35(1), 225–237. https://doi.org/10.24843/eja.2025.v35.i01.p15
Triyonowati, & Dewi, M. (2022). MANAJEMEN KEUANGAN II. Indomedia Pustaka.
Wafa, K. (2024). Exploring Tax Strategies : Leverage and Firm Size Effect in Manufacturing Firms. 1(2), 95–103.
Wahyudi, P. A., Tyasari, I., & Irianto, M. F. (2025). Pengaruh Leverage, Sales Growth, Dan Corporate Social Responsibility Terhadap Tax Avoidance Dengan Profitabilitas Sebagai Variabel Moderasi.
Downloads
Published
Issue
Section
License
Copyright (c) 2026 Nadia Nostiva Azra, Riza Reni Yenti (Author)
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
