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
₽ 245000

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽175089

₽69471

₽86601

₽166843

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.

245 000

income

53 631

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.

38 511

surtax

62 476

total

154 618

Employee

29 370

194 722

income

5 228

45 799

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

28 236

total

8 459

87 211

Employer

29 370

194 722

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.

7 075

28 857

surtax

21 420

total

7 075

50 277

Corporate

208 555

245 000

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%.

41 712

49 000

total

41 712

49 000

Dividends

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

166 843

196 000

total

Income

245 000

Total tax

57 246

49 000

137 488

154 618

After tax

187 754

196 000

107 512

90 382

Living cost

20 911

Free-cash

166 843

175 089

86 601

69 471

Estimated living cost is ₽20911 per week

₽13341

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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