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
€ 5650

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

€2787

€541

€1437

€2082

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.

4 520

income

655

microenterprise

170

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.

1 591

surtax

total

2 246

Employee

2 456

4 553

income

453

882

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.

270

501

surtax

total

723

1 383

Employer

2 456

4 553

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.

592

1 097

surtax

total

592

1 097

Corporate

2 602

5 650

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%.

520

1 130

total

520

1 130

Dividends

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

2 082

4 520

total

Income

5 650

Total tax

1 835

1 130

2 480

2 246

After tax

3 815

4 520

3 170

2 274

Living cost

1 733

Free-cash

2 082

2 787

1 437

541

Estimated living cost is €1733 per month

€1072

Rent. Two to three bedrooms at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.

€174

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

€41

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.

€446

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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