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
₽ 128000
per

Your estimated
City
free-cash

Riga , Latvia
₽81404
₽73128
₽16300
₽50844
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.

-
-
-
128 000
microenterprise
-
-
-
-
income
-
-
-
19 398
surtax
-
-
-
32 641
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.

-
-
-
38 666
total
-
-
-
90 705
Employee
29 488
-
103 150
-
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.

3 244
-
11 347
-
surtax
-
-
-
-
income
5 249
-
19 966
-
total
8 493
-
31 313
-
Employer
29 488
-
103 150
-
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.

7 103
-
24 848
-
surtax
-
-
-
-
total
7 103
-
24 848
-
Corporate
91 409
128 000
-
-
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%.

18 281
25 601
-
-
total
18 281
25 601
-
-
Dividends

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

73 127
102 399
-
-
total
-
-
-
-
Income
128 000
128 000
128 000
128 000
Total tax
33 877
25 601
56 161
90 705
After tax
94 123
102 399
71 839
37 295
Living cost
20 995
20 995
20 995
20 995
Free-cash
73 128
81 404
50 844
16 300

Estimated living cost  is ₽20995 per week

₽13394
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽1999
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽477
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.
₽5125
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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Source of data for Riga model

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