Enter your average income below to estimate applicable free-cash in all major European cities. By free-cash we mean your disposable income, left in your pocket after paying tax, rent, insurance, public transport, food expenses and basic entertainment. How does it work?

average income is
€ 1300

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

€829

€745

€171

€519

S + D Salary + Dividends

Salary + Dividends. A combination of a fixed monthly income with a bonus at the end of the year.

Dividends

Dividends. A single payment made annually out of accumulated profits.

Salary

Salary. A fixed monthly income you pay yourself to cover your living expenses.

Sole trader

Sole trader. You're running your business as an individual with an unlimited responsibility

Sole trader

As of 1 January, 2018 a microenterprise tax rate for microenterprise turnover of up to €40,000 is 15%. This tax is inclusive of all other taxes and contributions.

Microenterprise tax could also be applied to a company but as the only exception is a limitation of liability, we advise to register as a sole-trader.

1 300

microenterprise

income

198

surtax

332

social contributions

Each person younger than 30 on 1 July, 2001 should make pension contributions to an old-age pension account. We include it in our internal model.

388

total

918

Employee

296

1 048

social contributions

Each person younger than 30 on 1 July, 2001 should make pension contributions to an old-age pension account. We include it in our internal model.

115

surtax

income

203

total

318

Employer

296

1 048

social contributions

Each person younger than 30 on 1 July, 2001 should make pension contributions to an old-age pension account. We include it in our internal model.

252

surtax

total

252

Corporate

933

1 300

income

Corporate income tax rate is 20% applicable to the taxable base. However, before applying the statutory rate, the taxable base should be divided by a coefficient of 0.8. As taxable base is increased by the coefficient, the effective corporate income tax rate is 25%.

187

260

total

187

260

Dividends

In Latvia, local dividends are not subject to withholding tax.

746

1 040

total

Income

1 300

Total tax

344

260

570

918

After tax

956

1 040

730

382

Living cost

211

Free-cash

745

829

519

171

Estimated living cost is €211 per week

€134

Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.

€20

Public transport and taxi. Monthly travel card, and a few taxi rides per week.

€5

Clothing and shoes. We estimate one pair of shoes and trainers, and several items of clothing each year, or slightly more often if you choose cheaper mass market stores. Twice as often for kids.

€51

Food and entertainment. We estimate that you will have breakfast at a cafe once a week, evening meal at a restaurant once a week, and visit bars once a week for drinks.Other days you prepare meals at home.

€0

I'm drinking at home rarely or never.

€0

I do not smoke or smoke very rarely.

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