Sanchez will not serve any time in jail because, under Spanish law, first time offenders given sentences of less than 24 months avoid prison.
As first reported by Spanish news agency EFE, Sanchez’s punishment relates to concealing income from image rights between 2012 and 2013.
The striker admitted his guilt and agreed to pay the Spanish authorities the money defrauded, plus interest.
Sanchez is one of a series of football stars to be caught out by Spain’s image rights rules.
Lionel Messi was found guilty of tax evasion and handed a 21-month sentence, that was later converted into a fine.
His La Liga rival, Cristiano Ronaldo faces a 3.5 year term for not paying €14.7m in tax linked to his image rights.
Most recently, and half a step away from football, Colombian singer Shakira was similarly caught out. Her partner is Barcelona footballer Gerard Pique.
