Accounting Cycle Journal E-ISSN:2721-6578 Vol. 2, No. 1, February 2021 Febry Mardiani dan Meco Sitardja 22 Peran Tax Avoidance dalam…. PERAN TAX AVOIDANCE DALAM MEMODERASI PENGARUH FREE CASH FLOW, INVESTMENT OPPORTUNITY SET, SALES GROWTH TERHADAP DIVIDEND POLICY PADA PERUSAHAAN LQ45 YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2014-2017 Febry Mardiani 1 Meco Sitardja 2 1,2 Universitas Agung Podomoro 1 febry070297@gmail.com 2 meco.sitardja@podomorouniversity.ac.id Abstract This research aims to know the role of tax avoidance in moderating the influence of Free cash flow, Investment opportunity set, and sales growth toward Dividend policy on LQ45 companies that listed on Indonesia Stock Exchange in 2014-2017. Data was collected by using purposive sampling where total samples are 19 companies with 76 observation years. This research is analyzed using PLS (Partial Least Square). The result of this research show that Free cash flow, Investment opportunity set have influence significantly and positively toward dividend policy. Meanwhile, sales growth does not influence dividend policy. Beside that, the result also shows that there is no influence of tax avoidance in amplifying the effect of Free Cash Flow and Investment Opportunity set toward Dividend Policy. Lastly, result show that there is an influence of Tax Avoidance in amplifying the effect of Sales growth toward Dividend Policy. For future research, researcher can extend sample from some sectors in Indonesian Stock Exchange and use new variables such as ROA and ROE. Keywords: sales growth, investment opportunity set, free cash flow, dividend policy Abstrak Penelitian ini bertujuan untuk mengetahui peran penghindaran pajak dalam memoderasi pengaruh arus kas bebas, set kesempatan investasi, dan pertumbuhan penjualan terhadap kebijakan dividen pada perusahaan LQ45 yang terdaftar di Bursa Efek Indonesia tahun 2014-2017. Pengumpulan data dilakukan dengan menggunakan purposive sampling dimana jumlah sampel sebanyak 19 perusahaan dengan 76 tahun observasi. Penelitian ini dianalisis menggunakan PLS (Partial Least Square). Hasil penelitian menunjukkan bahwa free cash flow, investment opportunity set berpengaruh signifikan dan positif terhadap kebijakan dividen. Sedangkan pertumbuhan penjualan tidak mempengaruhi kebijakan dividen. Selain itu, hasil juga menunjukkan bahwa tidak terdapat pengaruh This is an open access article under the CC-BY-SA License