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
₽ 246500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽176289

₽70120

₽87335

₽168046

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.

246 500

income

54 103

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

62 858

total

155 470

Employee

29 369

196 076

income

5 228

46 224

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

28 431

total

8 459

87 831

Employer

29 369

196 076

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

21 568

total

7 074

50 424

Corporate

210 057

246 500

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%.

42 011

49 301

total

42 011

49 301

Dividends

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

168 046

197 199

total

Income

246 500

Total tax

57 544

49 301

138 255

155 470

After tax

188 956

197 199

108 245

91 030

Living cost

20 910

Free-cash

168 046

176 289

87 335

70 120

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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