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
₽ 119500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

-₽167738

-₽67743

-₽94776

-₽74796

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.

119 500

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.

13 030

income

microenterprise

17 923

surtax

total

30 953

Employee

231 476

96 299

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.

25 463

10 595

income

42 669

17 137

total

68 132

27 732

Employer

231 476

96 299

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.

55 763

23 201

surtax

total

55 763

23 201

Corporate

119 500

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%.

23 900

total

23 900

Dividends

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

95 600

total

Income

119 500

Total tax

123 895

23 900

50 933

30 953

After tax

-4 395

95 600

68 567

88 547

Living cost

163 343

Free-cash

-167 738

-67 743

-94 776

-74 796

Estimated living cost is ₽163343 per month

₽101002

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

₽16399

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

₽3903

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.

₽42035

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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