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
₽ 205000

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽142861

₽134528

₽51840

₽66749

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.

205 000

microenterprise

income

40 817

surtax

52 275

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

132 022

Employee

29 690

158 404

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

22 968

income

5 285

34 229

total

8 551

70 517

Employer

29 690

158 404

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

17 425

total

7 152

46 596

Corporate

168 159

205 000

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%.

33 631

41 001

total

33 631

41 001

Dividends

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

134 527

163 999

total

Income

205 000

Total tax

49 334

41 001

117 113

132 022

After tax

155 666

163 999

87 887

72 978

Living cost

21 138

Free-cash

134 528

142 861

66 749

51 840

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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