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
€ 89900
per

Your estimated
City
free-cash

Riga , Latvia
€42662
€51123
€16585
€9975
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.

-
-
-
89 900
surtax
-
-
-
22 924
microenterprise
-
-
-
-
income
-
-
-
16 014
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.

-
-
-
20 190
total
-
-
-
59 128
Employee
29 472
-
67 361
-
income
5 433
-
13 304
-
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.

3 242
-
6 908
-
surtax
-
-
9 767
-
total
8 675
-
29 979
-
Employer
29 472
-
67 361
-
surtax
-
-
7 410
-
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.

7 100
-
15 129
-
total
7 100
-
22 539
-
Corporate
53 328
89 900
-
-
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%.

10 666
17 980
-
-
total
10 666
17 980
-
-
Dividends

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

42 662
71 920
-
-
total
-
-
-
-
Income
89 900
89 900
89 900
89 900
Total tax
26 441
17 980
52 518
59 128
After tax
63 459
71 920
37 382
30 772
Living cost
20 797
20 797
20 797
20 797
Free-cash
42 662
51 123
16 585
9 975

Estimated living cost  is €20797 per year

€12860
Rent. Two to three bedrooms at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
€2088
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
€497
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.
€5352
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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Estimated living cost

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