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

₽71346

₽55254

₽22113

₽77753

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

income

19 253

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.

29 923

surtax

29 963

total

79 139

Employee

22 821

84 389

income

4 062

16 385

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.

2 511

9 284

surtax

total

6 573

25 669

Employer

22 821

84 389

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.

5 497

20 329

surtax

total

5 497

20 329

Corporate

89 183

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%.

17 836

23 499

total

17 836

23 499

Dividends

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

71 346

94 001

total

Income

117 500

Total tax

29 906

23 499

45 998

79 139

After tax

87 594

94 001

71 502

38 361

Living cost

16 248

Free-cash

71 346

77 753

55 254

22 113

Estimated living cost is ₽16248 per week

₽10365

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

₽1547

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

₽369

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.

₽3966

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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