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
₽ 198000

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

-₽9498

-₽6267

-₽91561

-₽51057

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.

198 000

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.

13 135

income

microenterprise

29 699

surtax

total

42 834

Employee

233 349

159 560

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.

25 669

17 553

income

43 014

28 400

total

68 683

45 953

Employer

233 349

159 560

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.

56 214

38 440

total

56 214

38 440

Corporate

198 000

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%.

39 603

total

39 603

Dividends

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

158 397

total

Income

198 000

Total tax

124 897

39 603

84 393

42 834

After tax

73 103

158 397

113 607

155 166

Living cost

164 664

Free-cash

-91 561

-6 267

-51 057

-9 498

Estimated living cost is ₽164664 per month

₽101819

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

₽16532

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

₽3935

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.

₽42375

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