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
₽ 218000

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽58024

₽73614

₽145395

₽153598

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.

218 000

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.

38 310

income

45 274

microenterprise

surtax

55 590

total

139 174

Employee

29 217

170 535

income

5 201

38 283

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.

3 214

13 108

surtax

24 728

total

8 415

76 119

Employer

29 217

170 535

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.

7 038

28 707

surtax

18 758

total

7 038

47 465

Corporate

181 745

218 000

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%.

36 350

43 600

total

36 350

43 600

Dividends

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

145 395

174 400

total

Income

218 000

Total tax

51 803

43 600

123 584

139 174

After tax

166 197

174 400

94 416

78 826

Living cost

20 802

Free-cash

145 395

153 598

73 614

58 024

Estimated living cost is ₽20802 per week

₽13271

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

₽1981

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

₽472

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.

₽5078

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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