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
₴ 1348000

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

-₴380235

₴95617

-₴210021

₴84606

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.

1 348 000

surtax

microenterprise

202 206

income

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.

78 397

total

280 603

Employee

1 392 731

1 086 300

income

256 729

194 021

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.

153 202

119 509

surtax

total

409 931

313 530

Employer

1 392 731

1 086 300

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.

335 513

261 700

total

335 513

261 700

Corporate

1 348 000

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%.

269 592

total

269 592

Dividends

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

1 078 408

total

Income

1 348 000

Total tax

745 444

269 592

575 230

280 603

After tax

602 556

1 078 408

772 770

1 067 397

Living cost

982 791

Free-cash

-380 235

95 617

-210 021

84 606

Estimated living cost is ₴982791 per year

₴607704

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

₴98669

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

₴23486

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.

₴252911

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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