Analisis Dampak Reformasi Tarif Pajak PPH Badan terhadap Struktur Modal dan Profitabilitas pada Perusahaan Pertambangan yang Terdaftar di Bursa Efek Indonesia

Mohammad Yastrib Z Bunai (Universitas Tadulako)
Husnah Husnah (Universitas Tadulako)
Muslimin Muslimin (Universitas Tadulako)
Erwan Sastrawan Farid (Universitas Tadulako)

Akuntansi: Jurnal Riset Ilmu Akuntansi
Vol. 5 No. 3 (2026): September : Jurnal Riset Ilmu Akuntansi

The interaction between funding decisions and corporate profit-generating capacity to maintain operational continuity and fund exploration activities requires optimal financial management to maintain profitability based on the Trade-off Theory Concept and the Pecking Order Theory framework. This study aims to examine the impact of Corporate Income Tax (PPh) rate reform on capital structure (DER) and profitability (ROA) and verify the impact of capital structure on profitability in all mining sector company entities on the Indonesia Stock Exchange for the 2021–2025 period. Through an associative quantitative approach, panel data regression based on Random Effect Model (REM) was executed on 22 representative samples of purposive sampling results (110 observations). The test results prove that the effective tax rate (ETR) does not have a significant effect on capital structure, but has a negative and real impact on profitability. On the other hand, capital structures do not have a significant determination of profitability. These findings imply that mining issuers tend to comply with the Pecking Order Theory by utilizing the internal liquidity surplus of the commodity boom era rather than pursuing debt-based tax shields).