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
₽ 185500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

-₽18113

-₽107311

-₽22117

-₽60075

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.

185 500

microenterprise

27 822

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.

13 283

total

41 105

Employee

235 967

149 487

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.

25 957

16 445

income

43 497

26 605

surtax

total

69 454

43 050

Employer

235 967

149 487

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.

56 845

36 013

surtax

total

56 845

36 013

Corporate

185 500

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%.

37 101

total

37 101

Dividends

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

148 399

total

Income

185 500

Total tax

126 299

37 101

79 063

41 105

After tax

59 201

148 399

106 437

144 395

Living cost

166 512

Free-cash

-107 311

-18 113

-60 075

-22 117

Estimated living cost is ₽166512 per month

₽102962

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

₽16717

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

₽3979

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.

₽42850

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