Amazon has reached a settlement with the Italian tax authorities, obligating the US corporation to pay a total of €723 million to the Italian Revenue Agency. The parent firm will pay €511 million under the agreement, in addition to the €212 million paid recently by Amazon Logistics and Amazon Italia Transport. The accord comes after the Guardia di Finanza and the Italian Revenue Agency completed tax audits, which were supervised by the Milan Public Prosecutor's Office. Payment may also be made in installments, as required by law. This agreement concludes a protracted investigation and signifies a novel development in the relationship between the e-commerce entity and the Italian tax authorities.