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

₴18941

₴31365

₴17376

₴27172

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

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.

16 878

income

7 611

surtax

microenterprise

total

24 489

Employee

14 937

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.

1 643

4 653

income

2 659

8 079

total

4 302

12 732

Employer

14 937

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.

3 598

10 192

total

3 598

10 192

Corporate

33 965

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%.

6 793

10 500

total

6 793

10 500

Dividends

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

27 172

42 000

total

Income

52 500

Total tax

14 693

10 500

22 924

24 489

After tax

37 807

42 000

29 576

28 011

Living cost

10 635

Free-cash

27 172

31 365

18 941

17 376

Estimated living cost is ₴10635 per week

₴6785

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

₴1013

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

₴242

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.

₴2596

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.

Adjust living cost Show details Source