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
₽ 149500
per

Your estimated
City
free-cash

Riga , Latvia
₽11364
-₽22552
₽10203
-₽40834
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.

-
-
-
149 500
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.

-
-
-
8 634
microenterprise
-
-
-
22 426
income
-
-
-
-
surtax
-
-
-
-
total
-
-
-
31 060
Employee
153 385
-
120 475
-
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.

16 872
-
13 250
-
surtax
-
-
-
-
income
28 274
-
21 540
-
total
45 146
-
34 790
-
Employer
153 385
-
120 475
-
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.

36 951
-
29 025
-
surtax
-
-
-
-
total
36 951
-
29 025
-
Corporate
-
149 500
-
-
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%.

-
29 899
-
-
total
-
29 899
-
-
Dividends

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

-
119 601
-
-
total
-
-
-
-
Income
149 500
149 500
149 500
149 500
Total tax
82 097
29 899
63 815
31 060
After tax
67 403
119 601
85 685
118 440
Living cost
108 237
108 237
108 237
108 237
Free-cash
-40 834
11 364
-22 552
10 203

Estimated living cost  is ₽108237 per month

₽66928
Rent. Two to three bedrooms at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽10867
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽2587
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.
₽27854
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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