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
₽ 241000
per

Your estimated
City
free-cash

Riga , Latvia
₽85804
₽29182
₽32588
₽42281
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.

-
-
-
192 800
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.

-
-
-
17 070
microenterprise
-
-
-
36 146
income
-
-
-
-
surtax
-
-
-
-
total
-
-
-
53 216
Employee
151 626
-
194 214
-
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.

16 679
-
21 366
-
surtax
-
-
-
-
income
27 950
-
36 670
-
total
44 629
-
58 036
-
Employer
151 626
-
194 214
-
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.

36 527
-
46 786
-
surtax
-
-
-
-
total
36 527
-
46 786
-
Corporate
52 847
241 000
-
-
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%.

10 567
48 200
-
-
total
10 567
48 200
-
-
Dividends

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

42 280
192 800
-
-
total
-
-
-
-
Income
241 000
241 000
241 000
241 000
Total tax
91 723
48 200
104 822
53 216
After tax
149 277
192 800
136 178
139 584
Living cost
106 996
106 996
106 996
106 996
Free-cash
42 281
85 804
29 182
32 588

Estimated living cost  is ₽106996 per month

₽66160
Rent. Two to three bedrooms at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽10742
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽2557
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.
₽27534
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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