Chelsea are considering approaches for Bayern Munich winger Serge Gnabry and AC Milan's Rafael Leao as the Premier League club looks set to lose out to Barcelona to the signing of Raphinha, according to British media reports.
The Blues remain in the race to sign Raphinha but the Brazilian's preference is Barcelona, who are reportedly close to matching Leeds United's £65 million ($77.1m) valuation for the winger.
Various reports in the British media have claimed the London club could turn their attention to Gnabry or Leao should they, as expected, miss out on Raphinha.
Gnabry, 26, came through the Arsenal ranks and after struggling to cement his place in the senior team has since become an important player for Bayern, via a one-season stop at Werder Bremen.
The Germany international, who scored 17 goals last season and played a key role in Bayern's 2020 Champions League triumph, has one year remaining on his contract and could be available for around £45m.
Leao, meanwhile, would likely prove a more costly acquisition, with reports claiming Milan would demand in the region of £100m for the Portuguese forward. Leao, 23, enjoyed the most productive season of his career to help Milan win their first Serie A title in 11 years, scoring 11 goals and creating 10 assists.
Both Gnabry and Leao can play on either wing so would fit the profile for the sort of attacking players Thomas Tuchel is aiming to add to his squad this summer. The Chelsea manager prefers to deploy a flexible attack, and after the struggles of Romelu Lukaku last season - who has since returned to Inter Milan on loan - Tuchel is reportedly keen to overhaul his attacking options.
Raheem Sterling is expected to join the club imminently from Manchester City but Tuchel is reportedly keen to sign another forward, particularly if Hakim Ziyech departs. The Moroccan winger is being linked with a loan move to Milan.
It has been a quiet summer so far for Chelsea, who also want to strengthen their defence following the exits of Antonio Rudiger and Andreas Christensen to Real Madrid and Barcelona respectively.
Nathan Ake could follow Sterling by making the move from City to Chelsea, returning to the club he joined 2011 but where he failed to establish himself in the first team before joining Bournemouth in 2017.
Chelsea are also reportedly in the running for Barcelona midfielder Frenkie De Jong, who is a top target for Manchester United and their new manager Erik ten Hag.
Chelsea players train on return for pre-season
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In numbers
Number of Chinese tourists coming to UAE in 2017 was... 1.3m
Alibaba’s new ‘Tech Town’ in Dubai is worth... $600m
China’s investment in the MIddle East in 2016 was... $29.5bn
The world’s most valuable start-up in 2018, TikTok, is valued at... $75bn
Boost to the UAE economy of 5G connectivity will be... $269bn
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Elvis
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