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
₽ 130500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽83503

₽75264

₽17823

₽52317

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.

130 500

microenterprise

income

20 019

surtax

33 277

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.

38 484

total

91 780

Employee

29 350

105 166

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.

3 229

11 568

surtax

income

5 225

20 384

total

8 454

31 952

Employer

29 350

105 166

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.

7 070

25 334

surtax

total

7 070

25 334

Corporate

94 080

130 500

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%.

18 815

26 100

total

18 815

26 100

Dividends

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

75 265

104 400

total

Income

130 500

Total tax

34 339

26 100

57 286

91 780

After tax

96 161

104 400

73 214

38 720

Living cost

20 897

Free-cash

75 264

83 503

52 317

17 823

Estimated living cost is ₽20897 per week

₽13331

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

₽1990

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

₽475

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.

₽5101

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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