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
₽ 86000

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽25268

₽27829

₽39797

₽47997

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.

86 000

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.

27 648

income

12 282

microenterprise

surtax

total

39 930

Employee

29 217

69 304

income

5 201

13 049

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

7 624

surtax

total

8 415

20 673

Employer

29 217

69 304

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

16 696

surtax

total

7 038

16 696

Corporate

49 745

86 000

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%.

9 948

17 201

total

9 948

17 201

Dividends

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

39 797

68 799

total

Income

86 000

Total tax

25 401

17 201

37 369

39 930

After tax

60 599

68 799

48 631

46 070

Living cost

20 802

Free-cash

39 797

47 997

27 829

25 268

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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