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
₽ 61000
per

Your estimated
City
free-cash

Riga , Latvia
-₽223338
-₽126693
-₽112893
-₽122743
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.

-
-
-
61 000
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.

-
-
-
12 898
income
-
-
-
-
surtax
-
-
-
-
microenterprise
-
-
-
9 151
total
-
-
-
22 049
Employee
229 139
-
49 159
-
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.

25 206
-
5 411
-
income
42 238
-
8 747
-
surtax
-
-
-
-
total
67 444
-
14 158
-
Employer
229 139
-
49 159
-
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.

55 200
-
11 841
-
total
55 200
-
11 841
-
Corporate
-
61 000
-
-
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%.

-
12 199
-
-
total
-
12 199
-
-
Dividends

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

-
48 801
-
-
total
-
-
-
-
Income
61 000
61 000
61 000
61 000
Total tax
122 644
12 199
25 999
22 049
After tax
-61 644
48 801
35 001
38 951
Living cost
161 694
161 694
161 694
161 694
Free-cash
-223 338
-112 893
-126 693
-122 743

Estimated living cost  is ₽161694 per month

₽99983
Rent. Two to three bedrooms at downtown or an upmarket area with basic utilities which include internet connection and a mobile phone.
₽16234
Public transport and taxi. Monthly travel card, and a few taxi rides per week.
₽3864
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.
₽41610
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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Source of data for Riga model

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Estimated living cost

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