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
₽ 191500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽132063

₽123727

₽46020

₽60169

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.

191 500

microenterprise

income

36 579

surtax

48 833

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.

38 930

total

124 342

Employee

29 690

146 242

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.

3 266

13 320

surtax

21 206

income

5 285

30 409

total

8 551

64 935

Employer

29 690

146 242

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.

7 152

29 171

surtax

16 087

total

7 152

45 258

Corporate

154 659

191 500

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%.

30 932

38 299

total

30 932

38 299

Dividends

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

123 727

153 201

total

Income

191 500

Total tax

46 635

38 299

110 193

124 342

After tax

144 865

153 201

81 307

67 158

Living cost

21 138

Free-cash

123 727

132 063

60 169

46 020

Estimated living cost is ₽21138 per week

₽13486

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

₽2013

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

₽480

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.

₽5160

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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