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
₽ 161000

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽107805

₽99528

₽33122

₽75911

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.

161 000

microenterprise

income

27 161

surtax

41 056

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

106 883

Employee

29 488

117 428

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

12 917

surtax

income

5 249

22 889

total

8 493

35 806

Employer

29 488

117 428

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

28 288

surtax

total

7 103

28 288

Corporate

124 409

161 000

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%.

24 881

32 200

total

24 881

32 200

Dividends

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

99 528

128 800

total

Income

161 000

Total tax

40 477

32 200

64 094

106 883

After tax

120 523

128 800

96 906

54 117

Living cost

20 995

Free-cash

99 528

107 805

75 911

33 122

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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