DSM Integrated Annual Report 2020

10 Contingent liabilities

Guarantee obligations on behalf of affiliated companies and third parties amounted to €521 million (31 December 2019: €502 million). Koninklijke DSM N.V. has declared in writing that it accepts several liabilities for debts arising from acts in law of a number of consolidated companies (including relating to the Dutch fiscal unity for income tax and VAT). These debts are included in the consolidated balance sheet.