Liverpool manager Jurgen Klopp says the newly crowned Premier League champions will not spend big money in the transfer market, saying it's hard to improve on an already impressive squad.
Klopp's side ended their 30-year wait for a league title last week as Manchester City failed to beat Chelsea.
The Reds have set plenty of records on route to a 19th championship, including securing the title with seven games to spare. They are on course to beat City's points tally for a single season of 100 set in 2018.
With the financial impact of the coronavirus pandemic likely to be felt for years to come, Klopp said that, even if handed a sizable war chest, spending it would not necessarily be easy or the right thing to do.
They have already ceded to Chelsea in the pursuit of RB Leipzig striker Timo Werner, who signed for the London club for £53 million (Dh244m) just over a week ago.
"Covid has of course influenced both sides with ins and outs, that is completely normal, and it's just not likely that it will be the most busy summer in the world," Klopp told reporters.
"But maybe at a later point in the year, if the transfer window is still open, we will know more. But this squad ... look at it.
"It is not a squad you have to change now and say 'OK, we need this position and this position'."
The Liverpool boss said he had a "first 16 or 17" who could all play at the same level.
"We cannot spend millions and millions and millions because we want to or we think it is nice to do," he added. "We never wanted that."
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Liverpool fans celebrate
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Klopp's last big buy was the purchase of Alisson Becker for £65 million in 2018, while he also laid out a then world record £75 million for a defender to sign Virgil van Dijk in 2017.
While several players will leave at the end of the season - including former England internationals Adam Lallana and Nathaniel Clyne - the Merseyside club have instead focussed on securing key players and young players to long-term deals.
Wales under-19 international Neco Williams has impressed, along with academy graduate Curtis Jones and fellow young forward Harvey Elliott.
"You have to be creative and we try to be creative," said Klopp. "We try to find solutions internally and there is still a lot to come. We have three or four players who can make big steps."
Next up for Liverpool is a trip to recently unseated champions Manchester City, who are expected to form a guard of honour for the Reds at the Etihad Stadium on Thursday night.
UAE currency: the story behind the money in your pockets
2018 ICC World Twenty20 Asian Western Sub Regional Qualifier
Event info: The tournament in Kuwait is the first phase of the qualifying process for sides from Asia for the 2020 World T20 in Australia. The UAE must finish within the top three teams out of the six at the competition to advance to the Asia regional finals. Success at regional finals would mean progression to the World T20 Qualifier.
Teams: UAE, Bahrain, Saudi Arabia, Kuwait, Maldives, Qatar
Friday fixtures: 9.30am (UAE time) - Kuwait v Maldives, Qatar v UAE; 3pm - Saudi Arabia v Bahrain
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
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The years Ramadan fell in May
The%20specs
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Veere di Wedding
Dir: Shashanka Ghosh
Starring: Kareena Kapoo-Khan, Sonam Kapoor, Swara Bhaskar and Shikha Talsania
Verdict: 4 Stars
Polarised public
31% in UK say BBC is biased to left-wing views
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