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

₽35931

-₽20263

₽35399

-₽36689

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.

245 500

income

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.

12 801

microenterprise

36 828

total

49 629

Employee

227 409

197 838

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.

25 015

21 759

income

41 919

35 870

total

66 934

57 629

Employer

227 409

197 838

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.

54 783

47 662

surtax

total

54 783

47 662

Corporate

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%.

49 097

total

49 097

Dividends

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

196 403

total

Income

245 500

Total tax

121 717

49 097

105 291

49 629

After tax

123 783

196 403

140 209

195 871

Living cost

160 472

Free-cash

-36 689

35 931

-20 263

35 399

Estimated living cost is ₽160472 per month

₽99227

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

₽16111

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

₽3835

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.

₽41296

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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