The Effect of Capital Intensity and Leverage on Tax Planning with Transfer Pricing as an Intervening Variable

Vania Putri Sanda Salsabila; Usman Sastradipraja; Wiwi Hartika

doi:10.55681/economina.v5i6.2371

Authors

Vania Putri Sanda Salsabila Universitas Jenderal Achmad Yani Cimahi, Indonesia
Usman Sastradipraja niversitas Jenderal Achmad Yani Cimahi, Indonesia
Wiwi Hartika niversitas Jenderal Achmad Yani Cimahi, Indonesia

DOI:

https://doi.org/10.55681/economina.v5i6.2371

Keywords:

Intensitas Modal, Leverage, Tax Planning, Transfer Pricing, Perencanaan Pajak, Bursa Efek Indonesia.

Abstract

Tax revenue is a major source of state revenue, but tax planning practices by companies remain a challenge in optimizing tax revenue in Indonesia. Companies tend to utilize various strategies, such as capital intensity, leverage, and transfer pricing, to legally reduce their tax burden. This study aims to analyze the effect of capital intensity and leverage on tax planning, with transfer pricing as an intervening variable, in food and beverage manufacturing companies listed on the Indonesia Stock Exchange for the 2021–2024 period. This study employed quantitative methods with a descriptive and associative approach. The sampling technique used purposive sampling with secondary data in the form of the companies' annual financial reports. Data analysis was performed using multiple linear regression analysis, classical assumption tests, t-tests, F-tests, coefficients of determination, and path analysis using SPSS version 27. The results showed that capital intensity and leverage had a significant negative effect on tax planning. Capital intensity and leverage also had a significant positive effect on transfer pricing. Furthermore, transfer pricing was able to mediate the effect of capital intensity and leverage on tax planning. Simultaneously, capital intensity and leverage significantly influence transfer pricing, while capital intensity, leverage, and transfer pricing jointly significantly influence tax planning. This research shows that corporate asset structure and funding policies can influence tax planning practices both directly and through transfer pricing mechanisms.

Downloads

Download data is not yet available.

References

Ardeliani, I., & Solikhah, B. (2025). Strategic Determinants of Transfer Pricing in Indonesian Non-Financial Firms. E-Jurnal Akuntansi, 35(12). https://doi.org/10.24843/EJA.2025.v35.i12.p16

Febriani, S. D., Fauziyah, F., & Rahayu, P. (2026). The Effect of Leverage, Firm Size, and Transfer Pricing on Tax Planning in Energy Sector Companies Listed on the Indonesia Stock Exchange from 2022-2024. Al-Kharaj: Journal of Islamic Economic and Business, 8(2). https://doi.org/10.24256/kharaj.v8i2.9877

Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Sugiyono. (2023). Metode Penelitian Kuantitatif, Kualitatif, dan R&D (Edisi 3). Bandung: Alfabeta.

Ghozali, I. (2022). Aplikasi Analisis Multivariate dengan Program IBM SPSS 27. Semarang: Badan Penerbit Universitas Diponegoro.

Rahmawati, L., Hasanah, U., & Dewi, M. (2023). Quantitative Approach in Taxation Research: Empirical Evidence from Southeast Asia. Asian Journal of Accounting Research, 8(4), 312–326. https://doi.org/10.1108/AJAR-11-2022-0412

Hidayat, R., & Nurhayati, S. (2024). Purposive Sampling Technique in Financial and Taxation Research: Evidence from Emerging Markets. International Journal of Accounting and Finance Studies, 9(1), 44–58. https://doi.org/10.22158/ijafs.v9n1p44

Kurniawan, A., Prasetyo, B., & Lestari, D. (2024). Path Analysis Model in Corporate Tax Planning Research. International Journal of Economics and Finance Studies, 16(1), 55–69. https://doi.org/10.34109/ijefs.202416104

Sysmantia, E., & Evana, E. (2023). Analisis Pengaruh Transfer Pricing, Leverage, Pajak Tangguhan, dan Beban Iklan terhadap Tax Planning di Indonesia dengan Ukuran Perusahaan sebagai Variabel Kontrol. Jurnal Riset Ekonomi dan Akuntansi, 1(2), 195–221. https://doi.org/10.54066/jrea-itb.v1i2.291

Wibowo, T., Pramesti, D., & Anggraeni, S. (2023). Financial Statement Utilization in Tax Avoidance Research in Indonesia. Cogent Business and Management, 10(1), 1–14. https://doi.org/10.1080/23311975.2023.2281174

Yino, D., & Ngadiman. (2025). Transfer Pricing, Capital Intensity dan Leverage Diproyeksikan Mampu Mempengaruhi Tax Avoidance. Jurnal Ekonomi, 30(1), 130–152. https://doi.org/10.24912/je.v30i1.2941

Zahra, N., & Kurnia, R. (2022). Capital Intensity and Tax Planning Practices in Manufacturing Firms. Journal of Contemporary Accounting, 4(2), 88–101. https://doi.org/10.20885/jca.vol4.iss2.art3

Zulkarnaen, M., & Handayani, S. (2022). The Influence of Capital Intensity and Leverage on Corporate Tax Aggressiveness. Journal of Contemporary Accounting, 4(3), 211–225. https://doi.org/10.20885/jca.vol4.iss3.art5

Wahyudi, T., & Setiawan, H. (2025). Mediating Effect Analysis in Tax Avoidance Research Using Path Analysis. Cogent Business and Management, 12(1), 1–15. https://doi.org/10.1080/23311975.2025.2478112

Ardeliani, I., & Solikhah, B. (2025). Strategic Determinants of Transfer Pricing in Indonesian Non-Financial Firms. E-Jurnal Akuntansi, 35(12). https://doi.org/10.24843/EJA.2025.v35.i12.p16

Gabriella, M., & Lin, C. (2024). Leverage and Transfer Pricing Strategy in Multinational Companies. Journal of International Accounting Research, 23(2), 88–104. https://doi.org/10.2308/JIAR-2024-118

Septiana, A. D., & Machdar, N. M. (2024). An Exposition of Transfer Pricing, Fixed Asset Intensity and Capital Intensity on Tax Avoidance. Akuntansi Pajak dan Kebijakan Ekonomi Digital, 2(1), 17–26. https://doi.org/10.61132/apke.v2i1.713

Sysmantia, E., & Evana, E. (2023). Analisis Pengaruh Transfer Pricing, Leverage, Pajak Tangguhan, dan Beban Iklan terhadap Tax Planning di Indonesia dengan Ukuran Perusahaan sebagai Variabel Kontrol. Jurnal Riset Ekonomi dan Akuntansi, 1(2), 195–221. https://doi.org/10.54066/jrea-itb.v1i2.291

Wiguna, M. A. K., & Sinarwati, N. K. (2025). Pengaruh Profitabilitas, Leverage dan Transfer Pricing terhadap Tax Planning pada Perusahaan IDXQ30 Tahun 2020–2024. Jurnal Ilmiah Akuntansi dan Humanika, 15(2). https://doi.org/10.23887/jiah.v15i2.100222

Wulandari, F., & Ernandi, H. (2025). Leverage and Liquidity Drive Tax Avoidance in Manufacturing Companies. Academia Open, 10(2). https://doi.org/10.21070/acopen.10.2025.11042

Yino, D., & Ngadiman. (2025). Transfer Pricing, Capital Intensity dan Leverage Diproyeksikan Mampu Mempengaruhi Tax Avoidance. Jurnal Ekonomi, 30(1), 130–152. https://doi.org/10.24912/je.v30i1.2941

Juniar, M., Azis, M. T., & Surono. (2025). Pengaruh Capital Intensity, Sales Growth, dan Transfer Pricing terhadap Tax Avoidance Sektor Telekomunikasi dan Transportasi. Jurnal Ilmiah Ekonomi Manajemen Multi Science, 16(1). https://doi.org/10.52657/jiem.v16i01.2987

Pamungkas, M. R., & Nurdiniah, D. (2025). Pengaruh Transfer Pricing dan Capital Intensity terhadap Tax Avoidance dengan Leverage sebagai Variabel Moderasi. AKURASI: Jurnal Riset Akuntansi dan Keuangan, 7(2), 195–204. https://doi.org/10.36407/akurasi.v7i2.1686

Febriani, S. D., Fauziyah, F., & Rahayu, P. (2026). The Effect of Leverage, Firm Size, and Transfer Pricing on Tax Planning in Energy Sector Companies Listed on the Indonesia Stock Exchange from 2022–2024. Al-Kharaj: Journal of Islamic Economic and Business, 8(2). https://doi.org/10.24256/kharaj.v8i2.9877