Federal taxes of Arctic residents will be used for the development of the Polar Region
Half of the federal taxes received as a result of new investment projects in the Arctic zone, will be spent on the development of local social infrastructure. This decision was announced by the Deputy Minister for Development of the Far East and Arctic Alexander Krutikov at the Arctic Investor Day, which was held in Murmansk.
“We expect that the Arctic zone will have its own stable funding source for social development, which will help to pull up both the economy and the social sphere. Now the mechanism is under development, we plan to launch it next year”, said Alexander Krutikov.