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
₽ 148000
per

Your estimated
City
free-cash

Riga , Latvia
₽97406
₽89127
₽26603
₽69514
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.

-
-
-
148 000
microenterprise
-
-
-
-
income
-
-
-
23 998
surtax
-
-
-
37 741
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.

-
-
-
38 664
total
-
-
-
100 403
Employee
29 487
-
105 545
-
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
-
11 611
-
surtax
-
-
-
-
income
5 249
-
20 456
-
total
8 493
-
32 067
-
Employer
29 487
-
105 545
-
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
-
25 425
-
surtax
-
-
-
-
total
7 103
-
25 425
-
Corporate
111 410
148 000
-
-
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%.

22 283
29 600
-
-
total
22 283
29 600
-
-
Dividends

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

89 128
118 400
-
-
total
-
-
-
-
Income
148 000
148 000
148 000
148 000
Total tax
37 879
29 600
57 492
100 403
After tax
110 121
118 400
90 508
47 597
Living cost
20 994
20 994
20 994
20 994
Free-cash
89 127
97 406
69 514
26 603

Estimated living cost  is ₽20994 per week

₽13393
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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