THE ARCTIC FUND: OPPORTUNITIES FOR ENHANCING TAX INCOME GENERATION
This study was conducted in order to develop methodological approaches to the generation of financial resources for the Arctic Zone Development Fund of the Russian Federation (Arctic Fund). The object of the study is the Arctic Fund, established by the Government of the Russian Federation in Decembe...
Published in: | Север и рынок: формирование экономического порядка |
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The Russian Academy of Sciences, Federal Research Centre Kola Science Centre
2023
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Online Access: | https://doi.org/10.37614/2220-802X.2.2023.80.007 https://doaj.org/article/ddb4451cd74f400d899e95e671c2c436 |
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ftdoajarticles:oai:doaj.org/article:ddb4451cd74f400d899e95e671c2c436 2023-07-23T04:16:51+02:00 THE ARCTIC FUND: OPPORTUNITIES FOR ENHANCING TAX INCOME GENERATION Roman R. Nogovitsyn Tatiana S. Sofronova Alexey V. Novikov 2023-06-01T00:00:00Z https://doi.org/10.37614/2220-802X.2.2023.80.007 https://doaj.org/article/ddb4451cd74f400d899e95e671c2c436 EN RU eng rus The Russian Academy of Sciences, Federal Research Centre Kola Science Centre http://iep.kolasc.net.ru/journal/eng/?page_id=1114 https://doaj.org/toc/2220-802X doi:10.37614/2220-802X.2.2023.80.007 2220-802X https://doaj.org/article/ddb4451cd74f400d899e95e671c2c436 Север и рынок: формирование экономического порядка, Vol 26, Iss 2, Pp 104-116 (2023) socio-economic development of the arctic arctic fund budget redistribution one-time payments resource use Social Sciences H article 2023 ftdoajarticles https://doi.org/10.37614/2220-802X.2.2023.80.007 2023-07-02T00:35:08Z This study was conducted in order to develop methodological approaches to the generation of financial resources for the Arctic Zone Development Fund of the Russian Federation (Arctic Fund). The object of the study is the Arctic Fund, established by the Government of the Russian Federation in December 2022. The sources of funding are the subject of the study. The relevance of this research stems from the unique characteristics of the Arctic territories, where the financial base for development relies on the social and environmental responsibility of major taxpayers. The study builds upon data from the Federal Tax Service, the Federal Treasury, the Federal Agency for Mineral Resources, and the Torgi federal information system covering the period from 2011 to 2021. The article presents an analysis of the fund’s existing sources, as identified by the Government, and proposes additional sources. Based on an analysis of tax revenue data, the study reveals insufficient financing from taxes paid by Arctic residents. Additionally, by employing comparison and grouping methods for data on Arctic deposits, it was found that the final one-time payments for these deposits consistently exceed the planned and initial payments. However, these payments were incorporated into the federal budget without specific allocation. The study formulates recommendations that suggest utilizing funds obtained from the sale of resource use rights as additional sources, ensuring targeted allocation of one-time payments associated with Arctic deposits. The study also proposes the creation of compensation funds for the accumulation of deductions from mining businesses to address losses incurred by indigenous peoples of the North. These funds could complement the Arctic Fund in accumulating budgetary resources. The practical significance of this study lies in its potential to inform the search for reasonable and appropriate sources of financing for the activities of the Arctic Fund. Article in Journal/Newspaper Arctic Directory of Open Access Journals: DOAJ Articles Arctic Север и рынок: формирование экономического порядка 26 2/2023 104 116 |
institution |
Open Polar |
collection |
Directory of Open Access Journals: DOAJ Articles |
op_collection_id |
ftdoajarticles |
language |
English Russian |
topic |
socio-economic development of the arctic arctic fund budget redistribution one-time payments resource use Social Sciences H |
spellingShingle |
socio-economic development of the arctic arctic fund budget redistribution one-time payments resource use Social Sciences H Roman R. Nogovitsyn Tatiana S. Sofronova Alexey V. Novikov THE ARCTIC FUND: OPPORTUNITIES FOR ENHANCING TAX INCOME GENERATION |
topic_facet |
socio-economic development of the arctic arctic fund budget redistribution one-time payments resource use Social Sciences H |
description |
This study was conducted in order to develop methodological approaches to the generation of financial resources for the Arctic Zone Development Fund of the Russian Federation (Arctic Fund). The object of the study is the Arctic Fund, established by the Government of the Russian Federation in December 2022. The sources of funding are the subject of the study. The relevance of this research stems from the unique characteristics of the Arctic territories, where the financial base for development relies on the social and environmental responsibility of major taxpayers. The study builds upon data from the Federal Tax Service, the Federal Treasury, the Federal Agency for Mineral Resources, and the Torgi federal information system covering the period from 2011 to 2021. The article presents an analysis of the fund’s existing sources, as identified by the Government, and proposes additional sources. Based on an analysis of tax revenue data, the study reveals insufficient financing from taxes paid by Arctic residents. Additionally, by employing comparison and grouping methods for data on Arctic deposits, it was found that the final one-time payments for these deposits consistently exceed the planned and initial payments. However, these payments were incorporated into the federal budget without specific allocation. The study formulates recommendations that suggest utilizing funds obtained from the sale of resource use rights as additional sources, ensuring targeted allocation of one-time payments associated with Arctic deposits. The study also proposes the creation of compensation funds for the accumulation of deductions from mining businesses to address losses incurred by indigenous peoples of the North. These funds could complement the Arctic Fund in accumulating budgetary resources. The practical significance of this study lies in its potential to inform the search for reasonable and appropriate sources of financing for the activities of the Arctic Fund. |
format |
Article in Journal/Newspaper |
author |
Roman R. Nogovitsyn Tatiana S. Sofronova Alexey V. Novikov |
author_facet |
Roman R. Nogovitsyn Tatiana S. Sofronova Alexey V. Novikov |
author_sort |
Roman R. Nogovitsyn |
title |
THE ARCTIC FUND: OPPORTUNITIES FOR ENHANCING TAX INCOME GENERATION |
title_short |
THE ARCTIC FUND: OPPORTUNITIES FOR ENHANCING TAX INCOME GENERATION |
title_full |
THE ARCTIC FUND: OPPORTUNITIES FOR ENHANCING TAX INCOME GENERATION |
title_fullStr |
THE ARCTIC FUND: OPPORTUNITIES FOR ENHANCING TAX INCOME GENERATION |
title_full_unstemmed |
THE ARCTIC FUND: OPPORTUNITIES FOR ENHANCING TAX INCOME GENERATION |
title_sort |
arctic fund: opportunities for enhancing tax income generation |
publisher |
The Russian Academy of Sciences, Federal Research Centre Kola Science Centre |
publishDate |
2023 |
url |
https://doi.org/10.37614/2220-802X.2.2023.80.007 https://doaj.org/article/ddb4451cd74f400d899e95e671c2c436 |
geographic |
Arctic |
geographic_facet |
Arctic |
genre |
Arctic |
genre_facet |
Arctic |
op_source |
Север и рынок: формирование экономического порядка, Vol 26, Iss 2, Pp 104-116 (2023) |
op_relation |
http://iep.kolasc.net.ru/journal/eng/?page_id=1114 https://doaj.org/toc/2220-802X doi:10.37614/2220-802X.2.2023.80.007 2220-802X https://doaj.org/article/ddb4451cd74f400d899e95e671c2c436 |
op_doi |
https://doi.org/10.37614/2220-802X.2.2023.80.007 |
container_title |
Север и рынок: формирование экономического порядка |
container_volume |
26 |
container_issue |
2/2023 |
container_start_page |
104 |
op_container_end_page |
116 |
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