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
$ 4750

per

Your estimated

Best value All models

City

free-cash

Riga , Latvia

$1956

$1206

$691

$833

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.

4 750

microenterprise

income

688

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.

1 527

total

2 215

Employee

2 613

3 828

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.

287

421

surtax

income

482

730

total

769

1 151

Employer

2 613

3 828

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.

629

922

surtax

total

629

922

Corporate

1 508

4 750

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%.

302

950

total

302

950

Dividends

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

1 206

3 800

total

Income

4 750

Total tax

1 700

950

2 073

2 215

After tax

3 050

3 800

2 677

2 535

Living cost

1 844

Free-cash

1 206

1 956

833

691

Estimated living cost is $1844 per month

$1140

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

$185

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

$44

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.

$474

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.

I'm drinking at home rarely or never.

I do not smoke or smoke very rarely.

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