<![CDATA[Purpose – Tax revenue is essential for public financing, but corporate efforts to reduce tax payments can increase tax aggressiveness. This study evaluates the effects of firm size, transfer pricing, and capital intensity on tax aggressiveness in food and beverage companies listed on the IDX from 2020 to 2024. It also examines whether institutional ownership moderates the relationship between capital intensity and tax aggressiveness. Methods – The study applies a quantitative approach to audited financial reports that are publicly available. Purposive sampling produced six companies and 30 observations covering five years. Panel data regression was used for the base model, while Moderated Regression Analysis (MRA) was used to test the moderating relationship. Findings – Firm size, transfer pricing, and capital intensity jointly explain a statistically significant share of the variation in ETR, which is interpreted inversely as a measure of tax aggressiveness. Firm size does not significantly affect tax aggressiveness, and capital intensity does not significantly affect tax aggressiveness. Transfer pricing has a negative coefficient on ETR (coef = -0.086346; p = 0.0032), indicating that greater transfer pricing activity is associated with higher tax aggressiveness. Institutional ownership does not significantly moderate the relationship between capital intensity and tax aggressiveness. Research implications – The results underline the importance of monitoring related party transactions and applying the arm's length principle consistently. The evidence should be read cautiously because it is based on six companies, a limited transfer pricing proxy, and an MRA model with few observations relative to the number of predictors. The conclusions are therefore exploratory and apply only to the sampled food and beverage companies. Originality – The study provides evidence from Indonesia's food and beverage sector by combining a capital intensity measure with a test of institutional ownership as a moderator between capital intensity and tax aggressiveness.]]>
