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

Best value All models

City

free-cash

Riga , Latvia

-₽132778

-₽135984

-₽239680

-₽122188

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.

13 640

income

microenterprise

9 151

surtax

total

22 791

Employee

242 309

49 161

income

44 666

8 748

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.

26 654

5 410

surtax

total

71 320

14 158

Employer

242 309

49 161

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.

58 373

11 839

surtax

total

58 373

11 839

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%.

12 201

total

12 201

Dividends

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

48 799

total

Income

61 000

Total tax

129 693

12 201

25 997

22 791

After tax

-68 693

48 799

35 003

38 209

Living cost

170 987

Free-cash

-239 680

-122 188

-135 984

-132 778

Estimated living cost is ₽170987 per month

₽105729

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

₽17167

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

₽4086

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.

₽44002

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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