How will CbC Reporting cause increased tax controversy & reputation risk?

Multinational corporations (MNCs) are (rightly or wrongly) seen by many as undermining the credibility of the international tax system by paying what is sometimes perceived as unfair tax rates. Most global executives are aware of cases where publicly traded companies have had to openly respond to governments and the press about their tax affairs; therefore, it would be prudent to plan for an uptick in tax controversy due to the CbC reporting template. Currently, there are a number of bodies calling for the public disclosure of the CbC reporting template, including the European Parliament and the UK Chancellor of the Exchequer. In response, MNCs are attempting to block the public disclosure of CbC reporting since they believe the information would negatively affect their competitiveness. And, as evidenced by recent press, the escalation of tax disputes is no longer a potential for greater reputational risk, it's already happening to large MNCs who are making the headlines daily. One thing is clear, CbC reporting will only serve to exacerbate this scenario and increase the need for companies to proactively manage their tax reputation.