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
₽ 205500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽143491

₽52450

₽67351

₽135246

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.

205 500

income

41 229

microenterprise

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.

38 509

surtax

52 402

total

132 140

Employee

29 369

159 138

income

5 228

34 626

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.

3 231

13 176

surtax

23 075

total

8 459

70 877

Employer

29 369

159 138

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.

7 074

28 856

surtax

17 506

total

7 074

46 362

Corporate

169 057

205 500

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%.

33 811

41 099

total

33 811

41 099

Dividends

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

135 245

164 401

total

Income

205 500

Total tax

49 344

41 099

117 239

132 140

After tax

156 156

164 401

88 261

73 360

Living cost

20 910

Free-cash

135 246

143 491

67 351

52 450

Estimated living cost is ₽20910 per week

₽13340

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

₽1991

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

₽475

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.

₽5104

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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