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
₴ 2268000

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

₴792638

₴260286

₴289417

₴377017

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.

1 814 400

income

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.

163 010

microenterprise

340 218

total

503 228

Employee

1 447 948

1 827 707

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.

159 276

201 036

income

266 908

344 630

total

426 184

545 666

Employer

1 447 948

1 827 707

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.

348 815

440 293

surtax

total

348 815

440 293

Corporate

471 236

2 268 000

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%.

94 229

453 607

total

94 229

453 607

Dividends

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

377 007

1 814 393

total

Income

2 268 000

Total tax

869 228

453 607

985 959

503 228

After tax

1 398 772

1 814 393

1 282 041

1 311 172

Living cost

1 021 755

Free-cash

377 017

792 638

260 286

289 417

Estimated living cost is ₴1021755 per year

₴631798

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

₴102581

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

₴24417

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.

₴262938

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