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
₽ 233000

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽75672

₽21142

₽23055

₽30626

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.

186 400

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.

17 666

microenterprise

34 949

income

surtax

total

52 615

Employee

156 918

187 765

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.

17 261

20 653

surtax

income

28 925

35 240

total

46 186

55 893

Employer

156 918

187 765

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.

37 802

45 235

surtax

total

37 802

45 235

Corporate

38 280

233 000

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%.

7 656

46 598

total

7 656

46 598

Dividends

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

30 624

186 402

total

Income

233 000

Total tax

91 644

46 598

101 128

52 615

After tax

141 356

186 402

131 872

133 785

Living cost

110 730

Free-cash

30 626

75 672

21 142

23 055

Estimated living cost is ₽110730 per month

₽68470

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

₽11117

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

₽2646

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.

₽28495

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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