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
₽ 211500
per

Your estimated
City
free-cash

Riga , Latvia
₽60961
₽11692
₽11968
₽16933
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.

-
-
-
169 200
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.

-
-
-
17 268
microenterprise
-
-
-
31 726
income
-
-
-
-
surtax
-
-
-
-
total
-
-
-
48 994
Employee
153 386
-
170 443
-
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.

16 873
-
18 746
-
surtax
-
-
-
-
income
28 274
-
31 767
-
total
45 147
-
50 513
-
Employer
153 386
-
170 443
-
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
-
41 057
-
surtax
-
-
-
-
total
36 951
-
41 057
-
Corporate
21 163
211 500
-
-
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%.

4 231
42 301
-
-
total
4 231
42 301
-
-
Dividends

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

16 932
169 199
-
-
total
-
-
-
-
Income
211 500
211 500
211 500
211 500
Total tax
86 329
42 301
91 570
48 994
After tax
125 171
169 199
119 930
120 206
Living cost
108 238
108 238
108 238
108 238
Free-cash
16 933
60 961
11 692
11 968

Estimated living cost  is ₽108238 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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