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
₴ 83500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₴57889

₴54375

₴20595

₴26715

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.

83 500

microenterprise

income

16 291

surtax

21 292

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.

16 411

total

53 994

Employee

12 515

64 147

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.

1 377

5 615

surtax

9 302

income

2 228

13 604

total

3 605

28 521

Employer

12 515

64 147

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.

3 015

12 297

surtax

7 056

total

3 015

19 353

Corporate

67 970

83 500

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%.

13 594

16 700

total

13 594

16 700

Dividends

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

54 376

66 800

total

Income

83 500

Total tax

20 214

16 700

47 874

53 994

After tax

63 286

66 800

35 626

29 506

Living cost

8 911

Free-cash

54 375

57 889

26 715

20 595

Estimated living cost is ₴8911 per week

₴5685

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.

₴202

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.

₴2175

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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