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
₽ 233500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

-₽51981

-₽28711

₽24453

₽23181

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.

233 500

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.

12 950

income

surtax

microenterprise

35 025

total

47 975

Employee

230 060

188 171

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.

25 307

20 701

income

42 408

33 837

surtax

total

67 715

54 538

Employer

230 060

188 171

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.

55 422

45 329

total

55 422

45 329

Corporate

233 500

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%.

46 703

total

46 703

Dividends

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

186 797

total

Income

233 500

Total tax

123 137

46 703

99 867

47 975

After tax

110 363

186 797

133 633

185 525

Living cost

162 344

Free-cash

-51 981

24 453

-28 711

23 181

Estimated living cost is ₽162344 per month

₽100384

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

₽16299

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

₽3880

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.

₽41777

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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