Ronaldo had been handed a fine on Thursday of nearly €19 million and a two-year jail sentence for evading €5.7 million in tax during his Real Madrid career.
Had the case gone further, without the player offering a full settlement, he could have faced a fine of a reported 28 million euros as well as a three-and-a-half-year jail term, according to the Spanish tax office union Gestha.
Spanish tax authorities have given their approval for football superstar Cristiano Ronaldo to pay close to 19 million euros (RM90 million) to settle a tax fraud claim, prosecutors said on Friday. The amount is likely to be only part of the €19 million total he will repay.
The football star will be required to pay the $3.72 million fine plus the $6.63 million in back taxes, $1.16 million in accrued interest and $290.67-per-day for the 48 months covering the prison sentence.
The prison sentence was later reduced to a further fine of 252,000 euros.
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The 16-time Dutch worldwide managed just 251 league minutes for Everton last season and didn't contribute a single goal or assist in that time.
Ronaldo is now on holiday following Portugal's World Cup campaign but interrupted his break to complete his €115m move to Juventus earlier this month.
Under Spanish law, though, if the Portugal striker re-offends during the duration of the sentence he would then be open to a custodial sentence.
Barcelona legend Lionel Messi was handed a 21-month prison sentence in 2017 on similar tax fraud charges.
Other footballers that have fallen foul of Spanish tax authorities in recent years include Manchester United's Alexis Sanchez and former Argentina captain Javier Mascherano.