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
₽ 194000
per

Your estimated
City
free-cash

Riga , Latvia
₽48187
₽3210
₽49350
₽4651
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.

-
-
-
194 000
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.

-
-
-
8 537
microenterprise
-
-
-
29 098
income
-
-
-
-
surtax
-
-
-
-
total
-
-
-
37 635
Employee
151 654
-
156 339
-
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.

16 682
-
17 197
-
surtax
-
-
-
-
income
27 955
-
28 917
-
total
44 637
-
46 114
-
Employer
151 654
-
156 339
-
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.

36 534
-
37 661
-
surtax
-
-
-
-
total
36 534
-
37 661
-
Corporate
5 813
194 000
-
-
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%.

1 163
38 798
-
-
total
1 163
38 798
-
-
Dividends

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

4 650
155 202
-
-
total
-
-
-
-
Income
194 000
194 000
194 000
194 000
Total tax
82 334
38 798
83 775
37 635
After tax
111 666
155 202
110 225
156 365
Living cost
107 015
107 015
107 015
107 015
Free-cash
4 651
48 187
3 210
49 350

Estimated living cost  is ₽107015 per month

₽66173
Rent. Two to three bedrooms at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽10744
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽2557
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.
₽27539
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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