Apple Holds on to Tax Billions as Irish Set to Miss Deadline
- Irish were due to select custodians, managers by mid-November
- EU suing Ireland for not collecting funds quickly enough
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Ireland is set to miss a deadline to hire managers for Apple Inc.’s tax billions during an appeal of a European Union antitrust ruling, the latest delay in a saga that has dragged on for more than a year.
The Irish debt office is hiring custodians and investment managers for the estimated 13 billion euros ($15.3 billion) in back taxes Ireland has been ordered to collect from the iPhone maker. It had planned to award contracts by mid-November, according to tender documents it issued in July and September.