Rembrandt is considered one of the greatest Dutch master painters

New York's Bob P Haboldt & Co gallery - which specalises in the work of Dutch and Flemish master painters - was charged on Wednesday with two counts of violating the state's sales tax law.

As a result of the plea agreement, the gallery has paid $400,000 (�240,000) in fines, said Sherry Hunter, spokeswoman for the Manhattan district attorney.

Catherine Redlich, the lawyer acting for the gallery, said her client was "very pleased that this matter has been resolved".

She added that no employee of the gallery had been charged with any crime.

The sold works were paintings and drawings from the 16th, 17th and 18th Centuries.

The gallery said it had failed to collect some $200,000 (�120,000) in taxes on sales of at least 11 art works between 1 March, 1998, and 30 November 2002.

Ms Redlich said customers of the gallery had paid, or were arranging to pay, the sales taxes that were not collected from them by the gallery.