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

₴31586

₴19150

₴17584

₴27480

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

7 623

surtax

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.

16 879

microenterprise

total

24 502

Employee

14 627

42 307

surtax

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.

1 609

4 654

income

2 604

8 090

total

4 213

12 744

Employer

14 627

42 307

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.

3 523

10 192

surtax

total

3 523

10 192

Corporate

34 350

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%.

6 870

10 500

total

6 870

10 500

Dividends

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

27 480

42 000

total

Income

52 500

Total tax

14 606

10 500

22 936

24 502

After tax

37 894

42 000

29 564

27 998

Living cost

10 414

Free-cash

27 480

31 586

19 150

17 584

Estimated living cost is ₴10414 per week

₴6644

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

₴992

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

₴237

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.

₴2542

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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