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
₽ 101500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽60057

₽51720

₽33042

₽36070

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.

101 500

microenterprise

income

14 682

surtax

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.

32 633

total

47 315

Employee

29 696

81 796

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.

3 267

8 997

surtax

income

5 286

15 586

total

8 553

24 583

Employer

29 696

81 796

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.

7 153

19 704

surtax

total

7 153

19 704

Corporate

64 651

101 500

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%.

12 931

20 300

total

12 931

20 300

Dividends

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

51 721

81 200

total

Income

101 500

Total tax

28 637

20 300

44 287

47 315

After tax

72 863

81 200

57 213

54 185

Living cost

21 142

Free-cash

51 720

60 057

36 070

33 042

Estimated living cost is ₽21142 per week

₽13488

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

₽2013

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

₽480

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.

₽5161

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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