<![CDATA[ABSTRACT This study aims to analyze the comparison of financial performance of companies in the infrastructure sector listed on the Indonesia Stock Exchange (IDX) before and after the implementation of the tax amnesty policy in Indonesia. The second phase of the tax amnesty policy, implemented in 2022, is expected to improve tax compliance, strengthen the national revenue base, and stimulate economic growth, particularly in the infrastructure sector as a strategic pillar of development. This research adopts a quantitative method with a comparative approach. The data used are secondary data obtained from the companies’ annual financial reports for three years before (2019–2021) and three years after (2022–2024) the implementation of the tax amnesty. Financial performance is measured using financial ratios such as Return on Assets (ROA), Debt to Equity Ratio (DER), Current Ratio (CR), and Total Asset Turnover (TATO). Data analysis was conducted using the Normality Test and the Wilcoxon Signed Rank Test. The results show that there are significant differences in several financial performance indicators before and after the implementation of the tax amnesty policy, indicating the policy's impact on the financial health of infrastructure companies listed on the IDX. These findings provide implications for the government and market participants regarding the effectiveness of fiscal policy on the real sector. Keywords: Tax Amnesty, Financial Performance, Return on Assets, Debt to Equity, Current Ratio, Total Asset Turnover. ABSTRAK Penelitian ini bertujuan untuk menganalisis perbandingan kinerja keuangan perusahaan sektor infrastruktur yang terdaftar di Bursa Efek Indonesia (BEI) sebelum dan sesudah pelaksanaan kebijakan tax amnesty di Indonesia. Kebijakan tax amnesty jilid II yang diberlakukan pada tahun 2022 diharapkan dapat meningkatkan kepatuhan pajak, memperkuat basis penerimaan negara, serta mendorong pertumbuhan ekonomi nasional, termasuk sektor infrastruktur sebagai salah satu sektor strategis pembangunan. Penelitian ini menggunakan metode kuantitatif dengan pendekatan komparatif. Data yang digunakan merupakan data sekunder yang diperoleh dari laporan keuangan tahunan perusahaan selama periode tiga tahun sebelum (2019–2021) dan tiga tahun sesudah (2022–2024) pelaksanaan tax amnesty. Kinerja keuangan diukur menggunakan rasio-rasio keuangan seperti Return on Assets (ROA), Debt to Equity (DER) Current Ratio (CR) dan Total Asset TurnOver (TATO). Analisis data dilakukan dengan Uji Normalitas, Wilcoxon Signed Rank Test. Hasil penelitian menunjukkan bahwa terdapat perbedaan signifikan pada beberapa indikator kinerja keuangan sebelum dan sesudah pelaksanaan tax amnesty, yang mengindikasikan adanya pengaruh kebijakan tersebut terhadap kesehatan keuangan perusahaan infrastruktur di BEI. Temuan ini memberikan implikasi bagi pemerintah dan pelaku pasar terkait efektivitas kebijakan fiskal terhadap sektor riil. Kata kunci: : Tax Amnesty, Kinerja Keuangan, ROA, Debt to Equity, Current Ratio, Total Assets TurnOver.]]>
