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
₽ 121000

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

-₽96938

-₽69556

-₽76779

-₽171542

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.

121 000

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.

13 270

income

surtax

microenterprise

18 150

total

31 420

Employee

235 751

97 507

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.

25 933

10 727

income

43 457

17 358

total

69 390

28 085

Employer

235 751

97 507

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.

56 793

23 493

total

56 793

23 493

Corporate

121 000

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%.

24 197

total

24 197

Dividends

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

96 803

total

Income

121 000

Total tax

126 183

24 197

51 578

31 420

After tax

-5 183

96 803

69 422

89 580

Living cost

166 360

Free-cash

-171 542

-69 556

-96 938

-76 779

Estimated living cost is ₽166360 per month

₽102868

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

₽16702

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

₽3976

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.

₽42811

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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