Abstract
Tax amnesty policy in Indonesia has an impact on companies listed on the Capital Market. Companies that take advantage of tax amnesty can be identified from the increase in net assets and equity. This increase results in an increase or decrease in profitability and may affect investors' interest in investing. This research aimed to analyze the influence of tax amnesty and internal and external factors on the company's profitability. This study's samples are companies listed on the main board of the Indonesia Stock Exchange between 2013 and 2018. Panel data regression was used in this study to analyze the data. The result showed that tax amnesty had a significant negative effect on profitability. Internal factors that had a significant positive effect on profitability were current ratio and total asset turnover, while debt to equity ratio negatively affected profitability. External factors that had a significant positive effect on profitability were interest rates and rupiah exchange rates. Tax amnesty negatively affected profitability resulting in corporate profits declining dramatically during the tax amnesty program. Based on the results, it could be concluded that several factors could affect profitability, such as tax amnesty policy, internal factors, and external factors of the company. Keywords: external factors, internal factors, panel data regression, profitability, tax amnesty
Highlights
*)Sekolah Bisnis, IPB University Jl Pajajaran Bogor, 16151, Indonesia **) Fakultas Ekonomi, Universitas Pakuan Jl
Tax amnesty policy in Indonesia has an impact on companies listed on the Capital Market
Companies that take advantage of tax amnesty can be identified from the increase in net assets and equity
Summary
Perusahaan harus memperhatikan tingkat suku bunga apabila berkeinginan untuk meningkatkan modal dalam bentuk pinjaman. Untuk mengetahui apakah perusahaan mengikuti tax amnesty atau tidak, dapat diketahui dari laporan keuangannya yang mengacu pada PSAK 70. Net profit margin (NPM) menjadi variabel yang mewakili rasio profitabilitas perusahaan sebagai variabel dependen, sedangkan tax amnesty (TA), faktor internal dan eksternal perusahaan menjadi variabel independen. Hipotesis dari penelitian ini adalah sebagai berikut: H01: Tax amnesty tidak berpengaruh negatif signifikan terhadap net profit margin. H11: Tax amnesty berpengaruh negatif signifikan terhadap net profit margin. H03: Debt to equity ratio tidak berpengaruh negatif signifikan terhadap net profit margin. H04: Total assets turnover ratio tidak berpengaruh positif signifikan terhadap net profit margin. H07: Tingkat suku bunga tidak berpengaruh negatif signifikan terhadap net profit margin. Untuk itu akan diidentifikasi perusahaan yang mengikuti kebijakan tax amnesty kemudian bagaimana kebijakan tersebut akan berdampak pada profitabilitas perusahaan publik. Ketidakpatuhan pada prinsip GCG Ada perusahaan yang melakukan tax evasion Diberlakukan Program Tax Amnesty (1 Juli 2016 – 31 Maret 2017) Identifikasi perusahaan-perusahaan yang ikut tax amnesty
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