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
₽ 126500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽15986

₽50197

₽72196

₽80397

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.

126 500

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.

38 310

income

19 145

microenterprise

surtax

32 257

total

89 712

Employee

29 217

101 943

income

5 201

19 730

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.

3 214

11 214

surtax

total

8 415

30 944

Employer

29 217

101 943

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.

7 038

24 557

surtax

total

7 038

24 557

Corporate

90 245

126 500

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%.

18 049

25 301

total

18 049

25 301

Dividends

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

72 196

101 199

total

Income

126 500

Total tax

33 502

25 301

55 501

89 712

After tax

92 998

101 199

70 999

36 788

Living cost

20 802

Free-cash

72 196

80 397

50 197

15 986

Estimated living cost is ₽20802 per week

₽13271

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

₽1981

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

₽472

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.

₽5078

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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