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
₽ 204500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽142604

₽134328

₽51871

₽66732

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.

204 500

microenterprise

income

40 820

surtax

52 148

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

131 634

Employee

29 488

158 132

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

13 229

surtax

22 929

income

5 249

34 247

total

8 493

70 405

Employer

29 488

158 132

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

28 973

surtax

17 395

total

7 103

46 368

Corporate

167 909

204 500

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%.

33 581

40 901

total

33 581

40 901

Dividends

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

134 328

163 599

total

Income

204 500

Total tax

49 177

40 901

116 773

131 634

After tax

155 323

163 599

87 727

72 866

Living cost

20 995

Free-cash

134 328

142 604

66 732

51 871

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.

Adjust living cost Show details Source