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
₽ 125500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽79566

₽71350

₽15393

₽49613

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.

125 500

microenterprise

income

18 900

surtax

32 002

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.

38 370

total

89 272

Employee

29 263

101 136

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.

3 219

11 125

surtax

income

5 209

19 563

total

8 428

30 688

Employer

29 263

101 136

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.

7 049

24 364

surtax

total

7 049

24 364

Corporate

89 188

125 500

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%.

17 838

25 099

total

17 838

25 099

Dividends

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

71 350

100 401

total

Income

125 500

Total tax

33 315

25 099

55 052

89 272

After tax

92 185

100 401

70 448

36 228

Living cost

20 835

Free-cash

71 350

79 566

49 613

15 393

Estimated living cost is ₽20835 per week

₽13292

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

₽1984

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

₽473

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.

₽5086

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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