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
₽ 195500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽135290

₽126967

₽47794

₽62162

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.

195 500

microenterprise

income

37 866

surtax

49 853

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.

38 877

total

126 596

Employee

29 650

149 882

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.

3 262

13 302

surtax

21 734

income

5 278

31 573

total

8 540

66 609

Employer

29 650

149 882

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.

7 142

29 132

surtax

16 487

total

7 142

45 619

Corporate

158 708

195 500

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%.

31 741

39 100

total

31 741

39 100

Dividends

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

126 968

156 400

total

Income

195 500

Total tax

47 423

39 100

112 228

126 596

After tax

148 077

156 400

83 272

68 904

Living cost

21 110

Free-cash

126 967

135 290

62 162

47 794

Estimated living cost is ₽21110 per week

₽13467

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

₽2010

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

₽479

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.

₽5153

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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