Shakira has secured a deal with Spanish prosecutors which means she avoids spending up to eight years in jail.
Shakira told the presiding judge that she had accepted the agreement reached with prosecutors.
The Colombian singer faced six counts of failing to pay the Spanish government €14.5 million (about £12.7 million) in taxes between 2012 and 2014.
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She released a statement once again asserting her claim to innocence and saying she was looking forward to spending more time with her children.
She said: "Throughout my career, I have always strived to do what’s right and set a positive example for others.
"That often means taking the extra step in business and personal financial decisions to procure the absolute best counsel, including seeking the advice of the world’s preeminent tax authorities PricewaterhouseCoopers International Limited and Ernst & Young Global Limited who have been my advisors during this whole process.
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"Unfortunately, and despite these efforts, tax authorities in Spain pursued a case against me as they have against many professional athletes and other high-profile individuals, draining those people’s energy, time, and tranquility for years at a time.
"While I was determined to defend my innocence in a trial that my lawyers were confident would have ruled in my favor, I have made the decision to finally resolve this matter with the best interest of my kids at heart who do not want to see their mom sacrifice her personal well-being in this fight.
"I need to move past the stress and emotional toll of the last several years and focus on the things I love - my kids and all the opportunities to come in my career, including my upcoming world tour and my new album, both of which I am extremely excited about.
"I admire tremendously those who have fought these injustices to the end, but for me, today, winning is getting my time back for my kids and my career."
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Shakira shares two children with her former partner Gerard Pique, and she was recently presented a Grammy by his footballing rival Sergio Ramos for a diss track about him.
Topics: Celebrity, World News
Joe Harker