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
₽ 117500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽14790

₽67026

₽46603

₽74654

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.

117 500

surtax

29 962

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.

35 630

income

17 771

total

83 363

Employee

27 174

94 689

income

4 837

18 323

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.

2 989

10 416

total

7 826

28 739

Employer

27 174

94 689

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.

6 545

22 811

total

6 545

22 811

Corporate

83 781

117 500

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%.

16 756

23 499

total

16 756

23 499

Dividends

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

67 025

94 001

total

Income

117 500

Total tax

31 127

23 499

51 550

83 363

After tax

86 373

94 001

65 950

34 137

Living cost

19 347

Free-cash

67 026

74 654

46 603

14 790

Estimated living cost is ₽19347 per week

₽12343

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

₽1842

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

₽439

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.

₽4722

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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