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
₽ 245500

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽88165

₽30466

₽34069

₽44133

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.

196 400

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.

17 268

microenterprise

36 826

income

surtax

total

54 094

Employee

153 385

197 839

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.

16 872

21 765

surtax

income

28 274

37 371

total

45 146

59 136

Employer

153 385

197 839

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.

36 951

47 661

surtax

total

36 951

47 661

Corporate

55 164

245 500

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%.

11 033

49 098

total

11 033

49 098

Dividends

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

44 131

196 402

total

Income

245 500

Total tax

93 130

49 098

106 797

54 094

After tax

152 370

196 402

138 703

142 306

Living cost

108 237

Free-cash

44 133

88 165

30 466

34 069

Estimated living cost is ₽108237 per month

₽66928

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

₽10867

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

₽2587

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.

₽27854

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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