This research aims to analyze the effects of financial derivatives utilization on corporate tax avoidance. Using the data of non-financial publicly gave contribution to the company in the Indonesian Stock Exchange in the period between 2012-2014, this research classifies a derivative user as speculator and effective hedger. The result shows that speculator companies have more aggressive tax avoidance than the effective hedgers. This research also analyzes the role of good corporate governance implementation to the relation between derivatives utilization and corporate tax avoidance levels. The result shows that a good corporate governance implementation has no significant effects to reduce the tax avoidance gap between speculator and effective hedger companies.