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
₴ 69500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₴14545

₴32791

₴43164

₴46680

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.

69 500

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

11 884

microenterprise

surtax

17 723

total

46 035

Employee

12 529

50 894

income

2 230

9 930

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

5 598

surtax

total

3 608

15 528

Employer

12 529

50 894

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

12 261

surtax

total

3 018

12 261

Corporate

53 953

69 500

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%.

10 790

13 900

total

10 790

13 900

Dividends

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

43 163

55 600

total

Income

69 500

Total tax

17 416

13 900

27 789

46 035

After tax

52 084

55 600

41 711

23 465

Living cost

8 920

Free-cash

43 164

46 680

32 791

14 545

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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