Swedish Tax Agency proposes revocation of F-tax approval for subsidiary Ortelius DT AB
Swedish Tax Agency proposes revocation of F-tax approval for subsidiary Ortelius DT AB
The Swedish Tax Agency (Sw. Skatteverket) has proposed that the F-tax approval (Sw. F-skatt) of Ortelius DT AB, a subsidiary of Ortelius International AB (publ) ("Ortelius" or the "Company"), be revoked. The proposal is based on unpaid taxes and fees amounting to SEK 11,814,215 as of 30 October 2026. The Company has until 5 November 2026 to respond. In order to resolve the situation, the Company requires additional external financing, which has not been secured as of the date of this press release.
This is an unofficial translation of the Swedish press release. In the event of any discrepancy between the Swedish original and this English translation, the Swedish version shall prevail.
What has happened?
Ortelius DT AB has overdue taxes and fees that remain unpaid. The Swedish Tax Agency has therefore proposed that the company's F-tax approval be revoked. The deadline for submitting a response is 5 November 2026. No decision has been made yet.
What does this mean for Ortelius?
Ortelius DT AB is one of the Group's two operating companies. If the company's F-tax approval is revoked, the Group's financial position and its relationships with customers and clients could be adversely affected. The Company assesses that the matter is of material importance to the Group. The Company may reapply for F-tax approval once the tax debt has been settled.
What is the Company doing?
- Costs: The Company has implemented cost reductions since before the summer. The measures have taken effect, and the balance between revenue and costs in the ongoing operations has improved.
- Tax debt: The Company is negotiating a payment plan with the Swedish Tax Agency and the Swedish Enforcement Authority (Sw. Kronofogdemyndigheten). The objective is to have a solution in place before 5 November 2026.
- Financing: The Company has substantial accumulated debt and is dependent on additional external financing, as also disclosed in the interim report for the second quarter of 2026. The Board of Directors is evaluating several alternatives. Financing has not been secured, and there can be no assurance that it will be secured or as to the terms on which it may be obtained. As announced on 18 October 2026, the Board of Directors has resolved to prepare a control balance sheet (Sw. kontrollbalansräkning) as of 30 September 2026. The control balance sheet will be reviewed by the Company's auditor, PwC, and the outcome will be announced once the review has been completed.
- Ongoing taxes: New taxes and fees are being paid as they fall due.
The Company will inform the market when the Swedish Tax Agency has made its decision, and in the event of any other material developments in the matter.
Comment from the CEO
"We have reduced costs and achieved a better balance between revenue and costs in our ongoing operations. However, we have a tax debt and other liabilities that have built up over time, and these need to be resolved. This requires new financing, which is not yet in place. That is our focus now, and we will keep our shareholders continuously informed," says Herman Weberg, CFO and acting CEO of Ortelius International AB.