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
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
52 500
52 500
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
6 935
6 935
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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