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Italian Judge Approves Tax Probe Settlement With the Chief of Apple’s Irish Unit

October 27, 2016, 1:54 PM UTC
Apple Inc. Headquarters In Ireland As They Face $14.5 billion Tax Bill
An Apple Inc. logo is displayed on a sign in front of hoarding boards as traffic drives past the company's campus in Cork, Ireland, on Friday, Sept. 2, 2016. Irelands government agreed to fight this weeks European Union decision forcing Apple Inc. to pay it vast tax arrears, ending a squabble which threatened to destabilize Prime Minister Enda Kennys administration. Photographer: Patrick Bolger/Bloomberg via Getty Images
Patrick Bolger — Bloomberg via Getty Images

A Milan judge has accepted a settlement agreement with the head of Apple’s Irish-based unit Apple Sales International as part of a probe into allegations the U.S. tech giant failed to pay corporate taxes in Italy to the tune of 879 million euros, a judicial source said.

Under the settlement agreement, a six-month jail sentence for the executive has been converted into the payment of a 45,000 euro ($49,126) fine, the source said.

Under Italian law, a settlement agreement does not imply an admission of guilt.

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Milan prosecutors investigating the allegations have asked for the case against two managers from the Italian subsidiary of Apple to be dropped, the source said.

Apple (AAPL) was not immediately available for comment.