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
₽ 243000

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽87687

₽30569

₽34213

₽44279

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.

194 400

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.

17 024

microenterprise

36 451

income

surtax

total

53 475

Employee

151 224

195 825

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.

16 635

21 540

surtax

income

27 876

37 004

total

44 511

58 544

Employer

151 224

195 825

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.

36 430

47 175

surtax

total

36 430

47 175

Corporate

55 346

243 000

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%.

11 068

48 601

total

11 068

48 601

Dividends

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

44 278

194 399

total

Income

243 000

Total tax

92 009

48 601

105 719

53 475

After tax

150 991

194 399

137 281

140 925

Living cost

106 712

Free-cash

44 279

87 687

30 569

34 213

Estimated living cost is ₽106712 per month

₽65985

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

₽10714

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

₽2550

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.

₽27461

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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