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
₽ 122500
per

Your estimated
City
free-cash

Riga , Latvia
-₽8785
-₽36498
-₽11183
-₽65287
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.

-
-
-
122 500
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.

-
-
-
8 518
microenterprise
-
-
-
18 377
income
-
-
-
-
surtax
-
-
-
-
total
-
-
-
26 895
Employee
151 331
-
98 716
-
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.

16 647
-
10 860
-
surtax
-
-
-
-
income
27 896
-
17 571
-
total
44 543
-
28 431
-
Employer
151 331
-
98 716
-
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.

36 456
-
23 779
-
surtax
-
-
-
-
total
36 456
-
23 779
-
Corporate
-
122 500
-
-
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%.

-
24 497
-
-
total
-
24 497
-
-
Dividends

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

-
98 003
-
-
total
-
-
-
-
Income
122 500
122 500
122 500
122 500
Total tax
80 999
24 497
52 210
26 895
After tax
41 501
98 003
70 290
95 605
Living cost
106 788
106 788
106 788
106 788
Free-cash
-65 287
-8 785
-36 498
-11 183

Estimated living cost  is ₽106788 per month

₽66032
Rent. Two to three bedrooms at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽10721
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽2552
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.
₽27481
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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