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
₽ 5572000

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₽1793713

₽2563971

₽1238314

₽1072150

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.

5 572 000

surtax

microenterprise

income

814 871

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.

1 791 391

total

2 606 262

Employee

2 683 439

4 490 245

income

494 652

864 493

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.

295 181

493 941

surtax

total

789 833

1 358 434

Employer

2 683 439

4 490 245

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.

646 449

1 081 664

total

646 449

1 081 664

Corporate

2 242 112

5 572 000

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%.

448 417

1 114 441

total

448 417

1 114 441

Dividends

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

1 793 695

4 457 559

total

Income

5 572 000

Total tax

1 884 699

1 114 441

2 440 098

2 606 262

After tax

3 687 301

4 457 559

3 131 902

2 965 738

Living cost

1 893 588

Free-cash

1 793 713

2 563 971

1 238 314

1 072 150

Estimated living cost is ₽1893588 per year

₽1170892

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

₽190111

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

₽45251

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.

₽487295

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.

Adjust living cost Show details Source