What areas of concern does the new CbC reporting template pose for CEOs?

Complying with BEPS CbC reporting will lift up three areas of concern for CEOs of multinational corporations:

1. Significantly increased demands on tax departments' resources in order to prepare the data for the new CbC reporting template and manage the increased audit activity that will result from this new requirement;
2. Significant data management challenges in gathering the data required for the CbC reporting template, and implementing a recommended best practice of reconciling public financial statements, legal entity books, and local tax returns to the CbC templates; and
3. Potential risk that confidential information provided in the template could be disclosed to the public through information leaks or formal disclosure requirements by individual countries.