Miuccia Prada is being investigated by tax authorities in Italy.

The renowned fashion designer and her husband, Patrizia Bertellia, have been suspected of tax evasion by Italian officials after they became concerned over ''the accuracy of certain past tax filings'' relating to the couple.

According to WWD, the 65-year-old fashion icon and her spouse - who are already said to have paid €470 million in January to the tax authorities - made an agreement with officials last year when they voluntarily disclosed their earnings.

The Milan-based brand has denied any wrongdoing, saying in a statement: ''This agreement completely satisfied the claims of the Italian tax authority, as declared and confirmed by the authority itself.''

Prada chairman Carlo Mazzi also said in a statement to the Hong Kong Stock Exchange: ''Neither the company nor any of its subsidiaries was or is involved in this matter.''

The claims follows the brand's holding company's move from Luxembourg to Italy last year, with the tax dodging allegedly taking place in Luxembourg over the last 10 years.

It isn't the first time high profile designers have been investigated in relation to possible tax evasion.

Domenico Dolce and Stefano Gabbana, of Dolce & Gabbana, were also investigated by authorities last year.