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
€ 900

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

€509

€271

€297

€425

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.

900

income

129

microenterprise

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.

289

surtax

total

418

Employee

296

725

income

137

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.

surtax

total

217

Employer

296

725

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.

175

surtax

total

175

Corporate

533

900

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%.

107

180

total

107

180

Dividends

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

426

720

total

Income

900

Total tax

264

180

392

418

After tax

636

720

508

482

Living cost

211

Free-cash

425

509

297

271

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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