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
₽ 59000

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

-₽125498

-₽112151

-₽121912

-₽221219

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.

59 000

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.

12 711

income

microenterprise

8 850

total

21 561

Employee

225 820

47 545

income

41 627

8 459

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.

24 840

5 233

surtax

total

66 467

13 692

Employer

225 820

47 545

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.

54 401

11 455

surtax

total

54 401

11 455

Corporate

59 000

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%.

11 800

total

11 800

Dividends

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

47 200

total

Income

59 000

Total tax

120 868

11 800

25 147

21 561

After tax

-61 868

47 200

33 853

37 439

Living cost

159 351

Free-cash

-221 219

-112 151

-125 498

-121 912

Estimated living cost is ₽159351 per month

₽98534

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

₽15998

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

₽3808

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.

₽41007

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