The Effect of Tax Planning, Profitability, and Capital Structure on Corporate Income Tax Liabilities with Operating Costs as A Moderating Variable
DOI:
https://doi.org/10.55047/transekonomika.v5i6.1098Keywords:
Capital Structure, Corporate Income Tax, Operating Costs, Profitability, Tax PlanningAbstract
This research examines how tax planning, profitability, and capital structure influence corporate income tax, with operating costs playing a moderating role. The analysis centers on publicly traded manufacturing firms listed on the Indonesia Stock Exchange (IDX) from 2020 to 2023. Employing secondary data from audited statements and purposive sampling, the research analyzes 284 firm-year observations from 71 companies. The key variables are operationalized as follows: ETR for tax planning, ROA for profitability, DER for capital structure, and total SG&A expenses for operating costs. Analysis using a panel data Fixed Effects Model (FEM) with Moderated Regression Analysis (MRA) in EViews 13 reveals a positive and significant impact of profitability on tax obligations, with no significant effects found for tax planning or capital structure. Furthermore, operating costs strengthen the positive relationship between profitability and tax. Conversely, operating costs negatively and significantly moderate the effects of both tax planning and capital structure on corporate income tax. These findings highlight the critical role of operating cost efficiency in shaping how financial factors influence tax obligations. The study contributes to academic taxation literature and offers practical insights for firms in developing compliant tax strategies.
Downloads
References
Algifari, A. (2000). Analisis Regresi, Teori, Kasus dan Solusi. Penerbit BPFE Yogyakarta.
Anderson, M. (2022). Corporate Dividend Policy and Tax Avoidance. Canadian Tax Journal, 70(4), 747–784. https://doi.org/10.32721/ctj.2022.70.4.anderson
Andrejovska, A. (2024). The impact of the effective tax rate change on financial assets of commercial banks: The case of Visegrad group countries. E A M Ekonomie A Management, 27(1), 175–191. https://doi.org/10.15240/tul/001/2024-1-011
Anggraeni, N. A., & Arief, A. (2022). Pengaruh Profitabilitas, Biaya Operasional, Dan Manajemen Laba Terhadap Pajak Penghasilan Badan Pada Perusahaan Manufaktur Sektor Konsumsi Di Bei (Periode 2017-2020). Jurnal Ekonomi Trisakti, 2(2), 583–594. https://doi.org/10.25105/jet.v2i2.14653
Apipih, A., & Finatariani, E. (2024). Pengaruh Struktur, Biaya Operasional dan Perencanaan Pajak Terhadap Pajak Penghasilan Badan Terutang. Jurnal Ilmiah Ekonomi Dan Manajemen, 2(8), 464–475. https://doi.org/10.61722/jiem.v2i8.2314
Bachas, P. (2025). The impact of COVID-19 on formal firms: Lessons from administrative tax data. Journal of Development Economics, 175, 103461. https://doi.org/10.1016/j.jdeveco.2025.103461
Baghdadi, G. (2022). CEO risk-seeking and corporate tax avoidance: Evidence from pilot CEOs. Journal of Corporate Finance, 76, 102282. https://doi.org/10.1016/j.jcorpfin.2022.102282
Barbera, A. (2020). Determinants of corporate effective tax rates: evidence from the euro area. Academia Revista Latinoamericana De Administracion, 33(3), 427–444. https://doi.org/10.1108/ARLA-12-2019-0238
Bernal, Á. P. G. (2021). Determinants of the tax burden of the Spanish companies for the corporate income tax during the economic crisis (2008-2015). Revista De Contabilidad Spanish Accounting Review, 24(2), 184–201. https://doi.org/10.6018/RCSAR.358921
Bondarenko, T. G. (2020). The effectiveness of the pharmaceutical area companies in the conditions of modern challenges. International Journal of Pharmaceutical Research, 12(3), 1910–1919. https://doi.org/10.31838/ijpr/2020.12.03.266
Botta, M. (2024). Currency change and capital structure decisions: evidence from the birth of the Euro area. International Journal of Managerial Finance, 20(3), 821–850. https://doi.org/10.1108/IJMF-04-2022-0153
Bremus, F. (2020). Interactions between bank levies and corporate taxes: How is bank leverage affected? Journal of Banking and Finance, 118, 105874. https://doi.org/10.1016/j.jbankfin.2020.105874
Cao, Y. (2023). Corporate tax-shields and capital structure: leveling the playing field in debt vs equity finance. European Journal of Finance, 29(15), 1716–1735. https://doi.org/10.1080/1351847X.2022.2158112
Cheng, C. S. A. (2021). Innovation and Corporate Tax Planning: The Distinct Effects of Patents and R&D. Contemporary Accounting Research, 38(1), 621–653. https://doi.org/10.1111/1911-3846.12613
Cuong, V. S. (2025). Tax Burden, Business Environment and Performance of SMEs: New Evidence from Vietnam. Journal of Tax Reform, 11(4), 774–790. https://doi.org/10.15826/jtr.2025.11.4.227
Dallari, P. (2020). Pouring oil on fire: interest deductibility and corporate debt. International Tax and Public Finance, 27(6), 1520–1556. https://doi.org/10.1007/s10797-020-09604-7
Darma, S. S., & Fitri, E. N. (2021). Pengaruh Struktur Modal Dan Manajemen Laba Terhadap Pajak Penghasilan Badan. Scientific Journal Of Reflection: Economic, Accounting, Management and Business, 4(3), 598–606. https://doi.org/10.37481/sjr.v4i3.340
Dewi, R. A. S., & Aulia, Y. (2023). Pengaruh Perencanaan Pajak, Biaya Operasional Dan Struktur Modal Terhadap Pajak Penghasilan Badan Terutang Dengan Profitabilitas Sebagai Variabel Moderasi PT. Catur Sentosa Adiprana. Soetomo Accounting Review, 1(3), 344–356. https://doi.org/10.25139/sacr.v1i3.6485
Fleckenstein, M. (2020). Corporate taxes and capital structure: A long-term historical perspective. Critical Finance Review, 9(1), 1–28. https://doi.org/10.1561/104.00000069
Ftouhi, K. (2020). International tax planning techniques: a review of the literature. Journal of Applied Accounting Research, 21(2), 329–343. https://doi.org/10.1108/JAAR-05-2019-0080
Fuest, C. (2022). Why Is Corporate Tax Revenue Stable While Tax Rates Fall? Evidence From Firm-Level Data. National Tax Journal, 75(3), 481–515. https://doi.org/10.1086/720704
Garcia-Bernardo, J. (2024). Profit shifting of multinational corporations worldwide. World Development, 177, 106527. https://doi.org/10.1016/j.worlddev.2023.106527
He, Z. (2023). Deleveraging policy, leverage management, and firms’ aggressive tax planning. Asia Pacific Journal of Accounting and Economics, 30(3), 594–618. https://doi.org/10.1080/16081625.2021.2003212
Hoopes, J. L. (2024). Are Private Firms More Aggressive Tax Planners? Accounting Review, 99(4), 197–223. https://doi.org/10.2308/TAR-2020-0499
Hossain, M. S. (2024). Tax avoidance and tax evasion: current insights and future research directions from an emerging economy. In Asian Journal of Accounting Research (Vol. 9, Issue 3, pp. 275–292). https://doi.org/10.1108/AJAR-09-2023-0305
Inayah, A. S., Rahayu, S., & Handriani, E. (2025). Dampak Arus Kas Bebas, Leverage dan Profitabilitas Terhadap Manajemen Laba Perusahaan Pertambangan Indonesia. Management and Accounting Expose, 8(1), 35–44.
Issa, S. S. (2024). Examining the Interplay between Tax Systems and Corporate Finance across Diverse Asian Economies. Advances in Decision Sciences, 28(3), 1–24. https://doi.org/10.47654/v28y2024i3p1-24
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4). https://doi.org/10.1016/0304-405X(76)90026-X
Jiang, J. (2023). A Synthesized Distribution Model: Asymmetric Information, Agency Problem, And Intertemporal Optimization. Corporate Governance and Organizational Behavior Review, 7(4), 152–160. https://doi.org/10.22495/cgobrv7i4p13
Joia, A. J. C. B. d. M. (2024). Taxes, Leverage, and Profit Shifting in Banks. Economies, 12(10), 263. https://doi.org/10.3390/economies12100263
Kang, M. (2022). The impact of corporate long-term tax avoidance and tax uncertainty on cost of equity capital: evidence from Korea. International Journal of Economics and Business Research, 25(1), 101–112. https://doi.org/10.1504/ijebr.2023.127287
Komarova, A. (2020). Integrated indicators of companies’ efficiency in petroleum industry. International Multidisciplinary Scientific Geoconference Surveying Geology and Mining Ecology Management Sgem, 2020(5), 309–316. https://doi.org/10.5593/sgem2020/5.2/s21.038
Kovermann, J., & Velte, P. (2019). The impact of corporate governance on corporate tax avoidance—A literature review. Journal of International Accounting, Auditing and Taxation, 36, 100270. https://doi.org/10.1016/j.intaccaudtax.2019.100270
Kubick, T. R. (2020). The effect of voluntary clawback adoptions on corporate tax policy. Accounting Review, 95(1), 259–285. https://doi.org/10.2308/accr-52484
Li, J. (2024). Tax incentive and corporate hiring decisions: Evidence from China’s VAT credit refund policy. Managerial and Decision Economics, 45(1), 414–427. https://doi.org/10.1002/mde.4010
Menichini, A. A. (2020). How do firm characteristics affect the corporate income tax revenue? International Review of Economics and Finance, 65, 146–162. https://doi.org/10.1016/j.iref.2019.10.004
Mgammal, M. H. (2020). Corporate tax planning and corporate tax disclosure. Meditari Accountancy Research, 28(2), 327–364. https://doi.org/10.1108/MEDAR-11-2018-0390
Muslim, A., & Junaidi, A. (2020). Pengaruh Perencanaan Pajak Dan Profitabilitas Terhadap Nilai Perusahaan Pada Perusahaan Pertambangan Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Lentera Bisnis, 9(2), 1–20. https://doi.org/10.34127/jrlab.v9i2.373
Nursasmita, E. (2021). Pengaruh Struktur Modal, Profitabilitas dan Biaya Operasional terhadap Pajak Penghasilan Badan Terutang. Jurnal Akuntansi Akunesa, 9(3), 30–41. https://doi.org/10.26740/akunesa.v9n3.p30-41
Olayiwola, J., & Okoro, S. (2021). Tax planning, corporate governance and financial performance of selected quoted non-financial companies in Nigeria (2007–2018). Organizations and Markets in Emerging Economies, 12(2), 332–352. https://doi.org/10.15388/omee.2021.12.59
Petutschnig, M. (2022). The Effect of an Allowance for Corporate Equity on Capital Structure: Evidence From Austria. Public Finance Review, 50(5), 597–642. https://doi.org/10.1177/10911421221125150
Rachidi, M. (2025). Corporate Income Tax Differential and Subsidiaries’ Profitability in Morocco: Profit-Shifting Evidence from a Pseudo-Ordinary Least Squares Framework. International Journal of Financial Studies, 13(4), 236. https://doi.org/10.3390/ijfs13040236
Rahmadi, R. (2011). Pengantar metodologi penelitian. Antasari Press.
Rahman, M. M. (2023). Impact of taxes on the 2030 agenda for sustainable development: Evidence from organization for economic co-operation and development (OECD) countries. Regional Sustainability, 4(3), 235–248. https://doi.org/10.1016/j.regsus.2023.07.001
Salamah, A. A., Pamungkas, M., & Yogi, K. (2016). Pengaruh Profitabilitas Dan Biaya Operasional Terhadap Pajak Penghasilan Badan (Studi Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Periode 2012-2014). Jurnal Perpajakan (JEJAK), 9(1), 1–10.
Salehi, M. (2024). Impact of corporate governance on tax avoidance. Journal of Public Affairs, 24(3), e2929. https://doi.org/10.1002/pa.2929
Sari, T. N., & Yunia, D. (2021). Tax Avoidance Pada Perusahaan Manufaktur Indonesia. National Conference On Applied Business, Education, & Technology (Ncabet), 1(1), 161–170.
Sekartaji, C. D. P., & Arifin, A. (2024). Pengaruh Leverage, Profitabilitas, Dan Struktur Modal Terhadap Pajak Penghasilan Badan Dengan Biaya Operasional Sebagai Variabel Moderasi Studi Kasus Sektor Perusahaan Keuangan. Jurnal Revenue: Jurnal Ilmiah Akuntansi, 5(1), 235–250. https://doi.org/10.46306/rev.v5i1.413
Shubita, M. F. (2024). The effect of tax avoidance on firm value with leverage as a moderating variable. Investment Management and Financial Innovations, 21(2), 336–344. https://doi.org/10.21511/imfi.21(2).2024.27
Simanjuntak, W. A. (2020). Analisis Pengaruh Profitabilitas, Leverage, Corporate Social Responsibility, Kepemilikan Institusional Dan Kualitas Audit Terhadap Tax Avoidance Pada Perusahaan Manufaktur Di Bursa Efek Indonesia Periode 2016-2019. Jurnal Manajemen, 6(1), 470518.
Sinelnikov-Murylev, S. G. (2022). Digitalization of Tax Administration in Russia: Opportunities and Risks. Ekonomicheskaya Politika, 17(2), 8–33. https://doi.org/10.18288/1994-5124-2022-2-8-33
Sucipto, T. N., & Hasibuan, R. (2020). Pengaruh Struktur Modal Terhadap Pajak Penghasilan Badan Terutang Pada Perusahaan Sektor Industri Barang Konsumsi Di Bursa Efek Indonesia. Jurnal Riset Akuntansi Dan Bisnis, 20(2), 207–212. https://doi.org/10.30596/jrab.v20i2.5624
Tacuba, A. (2022). Pemex: oil price and financial management in the context of elevated fiscal burden. Journal of Economics Finance and Administrative Science, 27(53), 175–194. https://doi.org/10.1108/JEFAS-06-2021-0094
Valcic, S. B. (2020). Applying Adaptive Neuro-fuzzy Inference System (ANFIS) while Analysing Interdependecies of Tax Burden and Capital Structure of Croatian Hotel Companies. In 2020 43rd International Convention on Information Communication and Electronic Technology Mipro 2020 Proceedings (pp. 1379–1385). https://doi.org/10.23919/MIPRO48935.2020.9245218
Wei, Z. (2024). Application of Tax Risk Management System based on Hybrid Association Rule with Apriori Algorithm. In International Conference on Distributed Systems Computer Networks and Cybersecurity Icdscnc 2024. https://doi.org/10.1109/ICDSCNC62492.2024.10939935
Winda, W., & Sari, L. (2023). Profitabilitas dan Biaya Operasional Terhadap Pajak Penghasilan Badan Terutang. Jurnal Pundi, 7(1), 117–128. https://doi.org/10.31575/jp.v7i1.461
Wulandari, A. A. A. I., Dewi, G. A., & Krisnadewi, K. U. (2025). Analisis Kinerja Keuangan Dan Biaya Lingkungan Pada PT Harum Energy Tbk Periode 2019–2023. Jurnal Akuntansi Kompetif, 8(2), 304–309. https://doi.org/10.35446/akuntansikompetif.v8i2.2110
.png)
.png)
.png)
.png)
