Two years ago, Briatore was convicted over a case surrounding tax evasion relating to his luxury yacht Force Blue.
Now, La Gazzetta dello Sport claims that with the prosecution pushing for a four-year jail sentence, an appeals court in Genoa has instead imposed an 18-month punishment for tax crimes.
Briatore and four others had been found guilty of using the yacht only recreationally, therefore dodging €3.6m (£3.2m) in value-added tax by issuing fake invoices.
The Italian's lawyer said: "We take note of the judge's decision and will appeal to the supreme court. We are convinced of Mr Briatore's innocence."
Force Blue was also confiscated.