<![CDATA[Transfer pricing has become a critical issue among tax practitioners, finance professionals, and academics instructuring related-party transactions. This study aims to examine Tunneling Incentive as a moderator of theeffect of Deferred Tax Expense and Debt Covenant on Transfer Pricing in consumer non-cyclicals companiesfor the 2021-2025 period, with a sample of 13 companies and 65 observations selected through purposivesampling. Using a quantitative approach and Eviews 13 analysis with the Fixed Effect Model (FEM), the resultsindicate that (1) partially, tunneling incentive is unable to moderate the relationship between deferred taxexpense on transfer pricing, (2) it significantly strengthens the effect of debt covenant on transfer pricing, and(3) deferred tax expense, debt covenant, and the moderating variable simultaneously have a significant effecton transfer pricing.]]>
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