Amazon has reached a settlement with the Italian tax authorities, which will pay a total of 723 million euros. Amazon and the tax department reached an agreement on Wednesday on a payment amount of 511 million euros, and its logistics and transportation subsidiaries have recently paid an additional 212 million euros. The settlement will be paid in installments. The agreement was reached after Milan prosecutors and the Italian Tax Police launched an investigation. Italy has been closely reviewing the tax situation of multinational companies in the country, and this agreement may set compliance expectations for other large technology companies operating in Italy.

Amazon has reached a settlement with the Italian tax authorities, which will pay a total of 723 million euros. Amazon and the tax department reached an agreement on Wednesday on a payment amount of 511 million euros, and its logistics and transportation subsidiaries have recently paid an additional 212 million euros. The settlement will be paid in installments. The agreement was reached after Milan prosecutors and the Italian Tax Police launched an investigation. Italy has been closely reviewing the tax situation of multinational companies in the country, and this agreement may set compliance expectations for other large technology companies operating in Italy.