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
₽ 224000

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽28984

-₽22173

-₽40150

₽28204

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.

224 000

surtax

microenterprise

33 600

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.

11 982

income

total

45 582

Employee

212 871

180 512

income

39 239

32 616

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.

23 416

19 855

total

62 655

52 471

Employer

212 871

180 512

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.

51 281

43 488

surtax

total

51 281

43 488

Corporate

224 000

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%.

44 802

total

44 802

Dividends

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

179 198

total

Income

224 000

Total tax

113 936

44 802

95 959

45 582

After tax

110 064

179 198

128 041

178 418

Living cost

150 214

Free-cash

-40 150

28 984

-22 173

28 204

Estimated living cost is ₽150214 per month

₽92884

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

₽15081

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

₽3590

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.

₽38656

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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