This aims of study was to analyze tax, good corporate governance (GCG), tunneling incentives, intangible assets, leverage, profitability and exchange rates on transfer pricing. This type of research was Explanatory Research. The population were multinational companies in the manufacturing industry which are listed on the Indonesia Stock Exchange (IDX) as many as 156 companies. The selected sample were 64 companies. The independent variables were Tax, Good Corporate Governance, Tunneling Incentive, Intangible Asset, Leverage, Profitability, Exchange Rate. The dependent variable was transfer Pricing. The method of analysis used multiple linear regression and hypothesis testing. The results showed that tax had no positive and not significant effect on the company's decision to do transfer pricing. GCG had a positive and not significant effect on the company's decision to do transfer pricing. TNC had a positive and significant effect on the company's decision to do transfer pricing. Intangible Asset had no positive and insignificant effect on the company's decision to do transfer pricing. Leverage does not have a positive and significant effect on the company's decision to do transfer pricing. Profitability had positive effect on the company's decision to do transfer pricing. Exchange Rate does not have a positive and significant effect on the company's decision to transfer pricing.

Keywords : Tax, Good Corporate Governance , Tunneling Incentive, Intangible, Asset, Leverage , Profitability, Exchange Rate dan Transfer Pricing.