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Apple warns European tax probe could make a dent in its business

April 30, 2015, 3:46 PM UTC
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A potential tax probe on the Emerald Isle has Apple (AAPL) warning of a potential impact on the tech company’s bottom line.

The European Commission is looking into the way Ireland treats multinational corporations with regards to taxes, and Apple says the results could have a “material” impact on their business, reports Reuters.

Apple couldn’t put a number on just how much the investigation could cost the company, but said it believes that the claims made by the European Commission are “without merit.

In an earnings report earlier this week, Apple posted second quarter revenue of $58 billion and net profit of $13.6 billion.