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
₽ 65500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽31440

₽31541

₽16360

₽23174

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.

65 500

income

microenterprise

9 826

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.

3 172

surtax

total

12 998

Employee

29 441

52 783

income

5 241

9 657

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.

3 239

5 807

surtax

total

8 480

15 464

Employer

29 441

52 783

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.

7 092

12 715

surtax

total

7 092

12 715

Corporate

28 967

65 500

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%.

5 793

13 099

total

5 793

13 099

Dividends

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

23 174

52 401

total

Income

65 500

Total tax

21 365

13 099

28 179

12 998

After tax

44 135

52 401

37 321

52 502

Living cost

20 961

Free-cash

23 174

31 440

16 360

31 541

Estimated living cost is ₽20961 per week

₽13373

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

₽1996

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

₽476

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.

₽5117

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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