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
₽ 215500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

-₽4032

-₽52777

-₽7324

-₽94751

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.

215 500

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.

14 074

microenterprise

32 321

income

surtax

total

46 395

Employee

250 021

173 661

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.

27 503

19 104

surtax

income

46 088

30 913

total

73 591

50 017

Employer

250 021

173 661

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.

60 231

41 831

surtax

total

60 231

41 831

Corporate

215 500

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%.

43 103

total

43 103

Dividends

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

172 397

total

Income

215 500

Total tax

133 822

43 103

91 848

46 395

After tax

81 678

172 397

123 652

169 105

Living cost

176 429

Free-cash

-94 751

-4 032

-52 777

-7 324

Estimated living cost is ₽176429 per month

₽109094

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

₽17713

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

₽4216

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.

₽45402

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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