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
₽ 116000
per

Your estimated
City
free-cash

Riga , Latvia
₽71662
₽63327
₽40623
₽44082
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.

-
-
-
116 000
microenterprise
-
-
-
-
income
-
-
-
16 944
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.

-
-
-
37 295
total
-
-
-
54 239
Employee
29 690
-
93 481
-
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.

3 266
-
10 283
-
surtax
-
-
-
-
income
5 285
-
17 978
-
total
8 551
-
28 261
-
Employer
29 690
-
93 481
-
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.

7 152
-
22 519
-
surtax
-
-
-
-
total
7 152
-
22 519
-
Corporate
79 159
116 000
-
-
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%.

15 832
23 200
-
-
total
15 832
23 200
-
-
Dividends

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

63 326
92 800
-
-
total
-
-
-
-
Income
116 000
116 000
116 000
116 000
Total tax
31 535
23 200
50 780
54 239
After tax
84 465
92 800
65 220
61 761
Living cost
21 138
21 138
21 138
21 138
Free-cash
63 327
71 662
44 082
40 623

Estimated living cost  is ₽21138 per week

₽13486
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.
₽5160
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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