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
₴ 67500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₴45068

₴41547

₴13654

₴31806

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.

67 500

microenterprise

income

11 252

surtax

17 212

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.

16 450

total

44 914

Employee

12 546

49 048

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.

1 380

5 395

surtax

income

2 233

9 551

total

3 613

14 946

Employer

12 546

49 048

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.

3 022

11 816

surtax

total

3 022

11 816

Corporate

51 933

67 500

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%.

10 386

13 500

total

10 386

13 500

Dividends

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

41 546

54 000

total

Income

67 500

Total tax

17 021

13 500

26 762

44 914

After tax

50 479

54 000

40 738

22 586

Living cost

8 932

Free-cash

41 547

45 068

31 806

13 654

Estimated living cost is ₴8932 per week

₴5698

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

₴851

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.

₴2180

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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