Economy

The economic situation of the circumpolar Arctic is distinct among world regions. The formal economy is based on the large-scale exploitation of natural resources; however, traditional hunting and gathering, fishing, and animal husbandry also continue to be important to northern peoples. Arctic sub-regions depend strongly on their mother economies in the south, and the central governments of Arctic states support much of the overall consumption through transfer payments to local agencies and individuals. In general, the Far North plays an asymmetrical role in the world economy, exporting considerable quantities of raw materials and importing most of the finished products needed to meet internal demands.

The automated system is scheduled to launch on April 1, 2026, with a pilot phase running through the end of 2027. The announcement was made by Governor of the Yamal-Nenets Autonomous Area Dmitry Artyukhov during a meeting of the council of municipal heads.

According to the governor, the new tax regime will fully exempt entrepreneurs from filing tax reports.

“The Federal Tax Service will obtain all necessary information directly from banks, eliminating the need to submit tax returns. Taxes will be calculated automatically. The system is designed for businesses with up to five employees and annual revenue of up to 60 million rubles. I am confident that this measure will give additional momentum to the development of entrepreneurship in the region,” Artyukhov said.

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15 December 2015

Economy

There are no areas of development we aren’t prepared to move into – Arkhangelsk governor