MILAN — On Wednesday, Italian prosecutors announced their intention to close a tax evasion inquiry into Google after the company reached a settlement agreement amounting to 326 million euros (approximately $340 million).

The investigation initiated by Milan prosecutors centered on Google’s reported failure to pay taxes on its earnings accrued in Italy between 2015 and 2019. A significant aspect of the inquiry scrutinized the revenues generated from advertising sales and highlighted Google’s operational infrastructure, including servers based in Italy.

In a statement, Google confirmed the settlement, stating that this resolution addresses “a tax audit … without litigation.”

This is not the first time Google has faced significant financial scrutiny for tax-related issues; the tech corporation previously paid over $1 billion to French authorities to resolve a prolonged dispute concerning allegations of tax fraud.