Analysis of the Effect of Customs Policy and Tax Restitution on the Profitability and Capital Structure of Companies Receiving Bonded Zone Facilities
Analisis Pengaruh Customs Policy dan Tax Restitution Terhadap Profitabilitas dan Struktur Modal Perusahaan Penerima Fasilitas Kawasan Berikat
DOI:
https://doi.org/10.21070/ups.9259Keywords:
Customs Policy, Tax Restitution, Profitability, Capital Structure, Bonded Zone FacilitiesAbstract
This study aims to analyze the effect of Customs Policy and Tax Restitution on profitability and capital structure in companies receiving bonded zone facilities in Indonesia. Bonded zone facilities are one of the fiscal incentives provided by the government to enhance the competitiveness of domestic industries, particularly to promote exports and improve production cost efficiency. The independent variables in this study are Customs Policy, measured by the customs duty burden ratio, and Tax Restitution, measured by the tax restitution ratio. The dependent variables are profitability, measured using Return on Assets (ROA), and capital structure, measured using the Debt to Equity Ratio (DER). The research population consists of 20 companies receiving bonded zone facilities and listed on the Indonesia Stock Exchange (IDX) for the 2022–2024 period. The sampling technique used is purposive sampling based on specific criteria. The study uses annual financial reports accessed through the official IDX website. Data analysis is conducted using multiple linear regression with SPSS 26 software. The results show that Customs Policy and Tax Restitution have a positive significant effect on ROA and a negative significant effect on DER. These findings indicate that fiscal incentives enhance profitability and reduce debt dependence, contributing to healthier capital structures. The study provides policy implications for optimizing fiscal incentives in bonded zones.
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