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The Multilateral Instrument (MLI) proposed in OECD BEPS Action 15 will lead to the modification of numerous tax treaties. As tax treaties can have different wording, terminology and structure, a great challenge is to find a proper way to accomplish their modification without distorting the underlying framework or triggering undesirable effects.

This book analyses the MLI, which was signed by over seventy jurisdictions on 7 June 2017. The topics covered include:

• - the procedural mechanisms on how the new measures to prevent base erosion and profit shifting (BEPS) will interact with and complement existing tax treaties;
• - the scope of the MLI in order to ascertain which tax treaties and taxes are covered;
• - the interpretation of terms used in the MLI and the relationship between the languages used in the MLI and in the particular tax treaties;
• - the implementation of the minimum standard through the MLI, as well as how states can exercise various options offered by the MLI and reserve the right not to apply certain provisions of the MLI;
• - the legal consequences of the exercise of options and reservations for the other states;
• - the notification procedure through which states declare their choices; and
• - the possibilities and procedure for withdrawal from the obligations entered into upon signing the MLI.

Finally, the book discusses whether the mechanism of the MLI can serve as a role model for future changes to the OECD Model Convention.

The book incorporates the analyses of leading scholars and practitioners dealing with international tax matters. Critical insights are offered for academics, practitioners, tax officials and judges who deal with or are interested in the field of international taxation.

Prof. Dr DDr h.c. Michael Lang is Head of the Institute for Austrian and International Tax Law of WU (Vienna University of Economics and Business) and academic director of both the LLM Program in International Tax Law and the Doctoral Program in International Business Taxation (DIBT) of this University. He is the president of the Austrian Branch of the International Fiscal Association (IFA) and has been visiting professor at Georgetown University, New York University, Sorbonne, Bocconi, Peking University (PKU), University of New South Wales (Sydney), and at other universities.

Prof.Dr Josef Schuch received his Doctorate in Law in 1998 for his thesis on expenses and losses under tax treaty law, and his PhD in 2002 for his work on timing issues under tax treaty law. His research and publishing activities mainly focus on international tax law. He has been a Professor in International Tax Law at the Institute for Austrian and International Tax Law, WU (Vienna University of Economics and Business) since 2002, and is a partner at Deloitte Austria.

Prof. Dr Claus Staringer is a professor at the Institute for Austrian and International Tax Law, WU, and a principal consultant with the law firm Freshfields Bruckhaus Deringer.

Prof. Dr Pasquale Pistone holds theAd PersonamJean Monnet Chair on European Tax Law and Policy at the Institute for Austrian and International Tax Law, WU (Vienna University of Economics and Business) and is the Academic Chairman of IBFD, Amsterdam. He is also an Associate Professor of Tax Law at the University of Salerno, and an honorary professor at both the Ural State Law University and at the University of Cape Town. He is the editor-in-chief of the World Tax Journal and the IBFD Doctoral Series.

Prof. Dr Alexander Rust is a Professor of Tax Law at the Institute for Austrian and International Tax Law, WU (Vienna University of Economics and Business). He previously worked as a Professor of Tax Law and director of the Master's Program in European and International Tax Law at the University of Luxembourg, as an acting assistant professor at New York University, and as an assistant at the University of Munich. He is a member of the editorial board of Intertax and Internationale SteuerRundschau, as well as co-editor ofKlaus Vogel on Double Taxation Conventions: Commentary. His main research interests are tax treaty law, European tax law and tax policy.