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
₴ 52500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₴32330

₴24739

₴10647

₴35065

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.

52 500

income

8 758

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.

12 772

surtax

13 388

total

34 918

Employee

9 741

38 166

income

1 734

7 433

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.

1 072

4 199

surtax

total

2 806

11 632

Employer

9 741

38 166

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.

2 346

9 194

surtax

total

2 346

9 194

Corporate

40 413

52 500

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%.

8 083

10 500

total

8 083

10 500

Dividends

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

32 330

42 000

total

Income

52 500

Total tax

13 235

10 500

20 826

34 918

After tax

39 265

42 000

31 674

17 582

Living cost

6 935

Free-cash

32 330

35 065

24 739

10 647

Estimated living cost is ₴6935 per week

₴4424

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

₴660

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

₴158

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.

₴1693

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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