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
₴ 54000
per

Your estimated
City
free-cash

Riga , Latvia
₴6726
₴21389
₴30761
₴34279
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.

-
-
-
54 000
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.

-
-
-
16 430
income
-
-
-
8 153
microenterprise
-
-
-
-
surtax
-
-
-
13 770
total
-
-
-
38 353
Employee
12 530
-
43 517
-
income
2 231
-
8 420
-
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.

1 379
-
4 787
-
surtax
-
-
-
-
total
3 610
-
13 207
-
Employer
12 530
-
43 517
-
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
-
10 483
-
surtax
-
-
-
-
total
3 018
-
10 483
-
Corporate
38 451
54 000
-
-
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%.

7 690
10 800
-
-
total
7 690
10 800
-
-
Dividends

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

30 761
43 200
-
-
total
-
-
-
-
Income
54 000
54 000
54 000
54 000
Total tax
14 318
10 800
23 690
38 353
After tax
39 682
43 200
30 310
15 647
Living cost
8 921
8 921
8 921
8 921
Free-cash
30 761
34 279
21 389
6 726

Estimated living cost  is ₴8921 per week

₴5691
Rent. One bedroom at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₴850
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.
₴2178
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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Source of data for Riga model

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