In this article, the authors assessed the resource availability, investment opportunities and incomes of the population of the Russian Arctic in the context of the potential development of this territory. The study showed that natural resources are not the main condition for the formation of regional finances. Based on the conducted statistical analysis, it is shown that the regions under study have powerful industrial potential but have a rather low level of investment attractiveness. It was revealed that the current system of social guarantees does not compensate for living conditions in these territories. It is concluded that considering the identified interregional differences and peculiarities will make it possible to develop new solutions and approaches in matters of financial development of the Arctic territories. The authors believe that expanding the powers of regional authorities, reducing budget consolidation and developing mechanisms aimed at forming the institutional foundations of state regulation will help build up additional regional financial resources, eliminate the legal vacuum and develop special mechanisms to stimulate investment processes and attract investment resources for these territories.

The increased interest in the Arctic is associated with the strengthening of its importance as a strategic resource base of the Russian Federation, ensuring the solution of the issues of the country's socioeconomic development. Harsh northern environmental conditions , the underdevelopment of the transport network and infrastructure, limited energy supply and other become a serious obstacle to the further development of the northern and arctic regions and the creation of favorable conditions for the population life. These circumstances require the development and formation of special legislation that takes into account the specifics of the Arctic zone. The aim of the study is to systematize the measures of the regulatory support of the population's residence and carry out economic activity in harsh northern environmental conditions as a basis for developing additional incentive mechanisms for the development of the Russian Arctic. The method of content analysis of the regulatory framework and a method for analyzing data on Arctic projects and programs are used in this study. Authors found that, the privileges and preferences fixed in legislative acts and taking into account the northern (Arctic) specifics are provided exclusively for the population. However their action far incompletely compensates for the discomfort of living in these regions. The toolkit to support the activities of economic entities and create favorable conditions for their functioning is presented mainly by the Tax Code with minimal consideration of the signs of "northernness". The competences of regional authorities in matters of stimulating economic activity are significantly limited. The most efficient tool of the state support still is presented by the state programs focused on solving problems of the national scale and developing commercially unprofitable spheres. Their disadvantage is limited duration and narrow focus. The main conclusion was that active economic development of the North and the Arctic, harsh climatic conditions and other restrictions require the separation of these territories into an independent object of state regulation with the development of special mechanisms and legislative norms ensuring the sustainable socioeconomic development of the Arctic regions.

*The article had been prepared on the basis of the research carried out under the theme of the research work 0226-2019-0023 "Scientific basis for the formation and implementation of the financial and investment potential of the North and the Arctic regions"

Income tax, on the one hand, is key and revenuegenerating for regional budgets, on the other -is social nature and affects the level of real incomes of the population. This article describes to assessing the impact of the existing tax burden of an individual on the level of his life and the ability to form savings. The main purpose of the research is to establish complementarily between tax burden of an individual and his savings level based on an equitable distribution of population incomes, taking into account the characteristics of the region. This assessment is particularly relevant in the regions of the Russian Arctic, where, due to the harsh climatic conditions of residence, compensation for the costs of livelihood of the population is significantly higher than in other regions of the Russian Federation. The incomes, savings, tax burden and the standard of living of the population in the Russian Arctic are analyzed. The trend dynamics has been identified and the interrelationships of the studied indicators have been determined. Based on the author's methodological approach, the maximum possible tax burden is determined, which reflects the maximum level of the tax rate in comparison with the personal income of an individual residing in the regions of the Arctic zone. A proposal to improve the system of taxation of individuals for the most equitable distribution of the tax burden in increased discomfort conditions of residence of people are formed. To address regional specifics, we suggest using the subsistence minimum, for example, as a non-taxable minimum for forming the tax base providing a socially fair redistribution of income between different segments of the population and leveling, thereby, the difference in living in certain territories.