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
₽ 26000

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

-₽252706

-₽137688

-₽148732

-₽149036

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.

26 000

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.

12 643

income

microenterprise

3 902

surtax

total

16 545

Employee

224 600

16 527

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.

24 706

4 329

income

41 402

2 439

total

66 108

6 768

Employer

224 600

16 527

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.

54 107

9 473

surtax

total

54 107

9 473

Corporate

26 000

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%.

5 197

total

5 197

Dividends

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

20 803

total

Income

26 000

Total tax

120 215

5 197

16 241

16 545

After tax

-94 215

20 803

9 759

9 455

Living cost

158 491

Free-cash

-252 706

-137 688

-148 732

-149 036

Estimated living cost is ₽158491 per month

₽98002

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

₽15912

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

₽3787

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.

₽40786

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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