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
₽ 98000

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽57490

₽31435

₽34354

₽49245

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.

98 000

income

14 148

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.

31 507

surtax

total

45 655

Employee

29 369

78 974

income

5 228

15 022

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

8 688

surtax

total

8 459

23 710

Employer

29 369

78 974

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

19 026

surtax

total

7 074

19 026

Corporate

61 557

98 000

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%.

12 312

19 600

total

12 312

19 600

Dividends

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

49 245

78 400

total

Income

98 000

Total tax

27 845

19 600

42 736

45 655

After tax

70 155

78 400

55 264

52 345

Living cost

20 910

Free-cash

49 245

57 490

34 354

31 435

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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