Enter your average income below to estimate applicable
My
average income is
€
600
per week
Salary + Dividends. A combination of a fixed monthly income with a bonus at the end of the year.
Dividends. A single payment made annually out of accumulated profits.
Salary. A fixed monthly income you pay yourself to cover your living expenses.
Sole trader. You're running your business as an individual with an unlimited responsibility
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.
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.
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.
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.
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%.
In Latvia, local dividends are not subject to withholding tax.
Estimated living cost is €211 per week
Source of data for Riga model
-
Tax system in Latvia - Ministry of Finance of the Republic of Latvia (English)
Last time retrieved: 2019-10-02T19:42:42Z
-
VSAA » Contributions (English)
Last time retrieved: 2019-10-02T19:42:42Z
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