PENGARUH KEPEMILIKAN MANAJERIAL, KEPEMILIKAN ASING, KEPEMILIKAN INSTITUSIONAL, DAN KEPEMILIKAN PEMERINTAH TERHADAP PENGHINDARAN PAJAK DI INDONESIA

Abstract

This study examines the effects of managerial, foreign, institutional, and government ownership on corporate tax avoidance among Indonesian listed firms. Tax avoidance is measured using two proxies, effective tax rate (ETR) and book-tax difference (BTD), to provide a more cautious assessment of the evidence. Secondary data were collected from annual reports and financial statements of firms listed on the Indonesia Stock Exchange during 2018–2022. Using purposive sampling, the study obtains 179 firms and 895 firm-year observations. The hypotheses are tested using fixed-effect panel regression while retaining corporate-governance characteristics, profitability, firm size, and leverage as control variables. The results show that managerial and government ownership have no significant effect on either ETR or BTD. Foreign and institutional ownership are significant, yet their directions differ across the two tax-avoidance measures. Foreign ownership increases both ETR and BTD, whereas institutional ownership decreases both ETR and BTD. These findings demonstrate that a single proxy is insufficient for assessing tax avoidance because ETR and BTD capture different dimensions of corporate tax strategies. The study suggests that tax authorities and investors should consider ownership structure jointly with multiple tax indicators before inferring a firm’s tax aggressiveness.