The objective of this empirical research is to examine the major determinants of transfer pricing aggressiveness in Indonesia. This research used a sample of multinational companies listed in the Indonesian Stock Exchange (IDX) from the period of 2010 to 2012. The data analysis was based on the company's financial statements generated from the IDX. Transfer pricing aggressiveness was measured by TPRICE index, which consists of items that represent occurrences of non-arm's length transactions. Six determinants of transfer pricing aggressiveness were tested in this study, including firm size, profitability, leverage, intangible assets, multi-nationality and tax haven utilisation. To test the model, multiple regression analysis was applied. Based on the results, the authors discovered that firm size and leverage are positively associated with transfer pricing aggressiveness, while intangible assets and multi-nationality are negatively associated. This study also shows that profitability and tax haven utilisation are not related to transfer pricing aggressiveness.