Italy's inland revenue service announced on Friday it has reached an agreement with Amazon to settle outstanding tax claims spanning 2011 to 2015, Reuters reports.
Amazon, the world's largest retailer, will pay a total of 100 million euros ($118 million) to resolve the dispute. In April, the Milan tax police stated it believed Amazon had evaded up to 130 million euros in Italian taxes.
When asked about the tax settlement, Amazon provided the following statement:
We have reached an agreement with the tax authorities on historical matters and remain focused on providing a great shopping experience for our customers in Italy, where we have invested more than €800m since 2010 and created over 3,000 jobs. In May 2015, to ensure we had the best business structure to serve our customers going forward, we established a local country branch of Amazon EU Sarl in Italy, with all retail revenues, expenses, profits and taxes due now accounted for in Italy.