(1) Part 38 of the Principal Act is amended by the insertion of the following section after section 891H:

"891I. Implementation of Article 1(8) of Council Directive (EU) 2021/514 of 22 March 2021 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation in relation to platform operators

(1) This section provides for the collection and reporting of certain information by reporting platform operators in respect of relevant activities undertaken by reportable sellers on their platforms.

(2) In this section -

'AML Directive' means Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 [OJ No. L141, 5.6.2015, p73] on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, amending Regulation (EU) 648/2012 of the European Parliament and of the Council, and repealing Directive 2005/60/EC of the European Parliament and of the Council and Commission Directive 2006/70/EU, as amended by Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 [OJ No. L156, 19.6.2018, p. 43];

'authorised DAC officer' means an officer of the Revenue Commissioners authorised under subsection (12) whose authorisation under that subsection includes authorisation for the purpose of exercising the powers set out in subsection (20);

'beneficial owner' has the same meaning as in the AML Directive;