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
₴ 53500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₴6472

₴21114

₴30363

₴33880

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.

53 500

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.

16 428

income

8 038

microenterprise

surtax

13 642

total

38 108

Employee

12 529

43 114

income

2 230

8 337

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.

1 378

4 743

surtax

total

3 608

13 080

Employer

12 529

43 114

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.

3 018

10 386

surtax

total

3 018

10 386

Corporate

37 953

53 500

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%.

7 591

10 700

total

7 591

10 700

Dividends

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

30 362

42 800

total

Income

53 500

Total tax

14 217

10 700

23 466

38 108

After tax

39 283

42 800

30 034

15 392

Living cost

8 920

Free-cash

30 363

33 880

21 114

6 472

Estimated living cost is ₴8920 per week

₴5691

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

₴849

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

₴203

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.

₴2177

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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