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

₽74398

₽46362

₽14189

₽66671

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

17 650

surtax

29 962

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.

36 098

microenterprise

total

83 710

Employee

27 531

94 690

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.

3 029

10 417

income

4 901

18 310

total

7 930

28 727

Employer

27 531

94 690

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.

6 631

22 810

surtax

total

6 631

22 810

Corporate

83 338

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%.

16 667

23 501

total

16 667

23 501

Dividends

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

66 671

93 999

total

Income

117 500

Total tax

31 228

23 501

51 537

83 710

After tax

86 272

93 999

65 963

33 790

Living cost

19 601

Free-cash

66 671

74 398

46 362

14 189

Estimated living cost is ₽19601 per week

₽12505

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

₽1867

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

₽445

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.

₽4785

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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