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
£ 3550

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

£572

£1343

£735

£507

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.

2 840

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.

238

income

microenterprise

533

surtax

total

771

Employee

2 122

2 861

surtax

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.

233

315

income

391

542

total

624

857

Employer

2 122

2 861

surtax

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.

511

689

total

511

689

Corporate

917

3 550

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%.

183

710

total

183

710

Dividends

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

734

2 840

total

Income

3 550

Total tax

1 318

710

1 546

771

After tax

2 232

2 840

2 004

2 069

Living cost

1 497

Free-cash

735

1 343

507

572

Estimated living cost is £1497 per month

£926

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

£150

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

£36

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.

£385

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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