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
₽ 139500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

-₽55814

-₽154897

-₽62190

-₽87369

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.

139 500

microenterprise

20 921

income

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.

13 355

total

34 276

Employee

237 246

112 421

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.

26 097

12 364

income

43 733

20 012

surtax

total

69 830

32 376

Employer

237 246

112 421

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.

57 153

27 079

surtax

total

57 153

27 079

Corporate

139 500

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%.

27 900

total

27 900

Dividends

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

111 600

total

Income

139 500

Total tax

126 983

27 900

59 455

34 276

After tax

12 517

111 600

80 045

105 224

Living cost

167 414

Free-cash

-154 897

-55 814

-87 369

-62 190

Estimated living cost is ₽167414 per month

₽103520

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

₽16808

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

₽4001

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.

₽43082

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.

Adjust living cost Show details Source