Isle of Man Railway Isle of Man Railway The Isle of Man Railway (IMR) () is a narrow gauge steam-operated railway connecting Douglas with Castletown and Port Erin. The line is narrow gauge and long. It is the remainder of what was a much larger network (over ) that also served the western town of Peel, the northern town of Ramsey and the small mining village of Foxdale. Now in government ownership, it uses original rolling stock and locomotives and there are few concessions to modernity. The line from Douglas to Port Erin is the last remaining line of the former Isle of Man
Economy of the Isle of Man and taxed on a total worldwide income basis rather than on a remittance basis. This means that all income earned throughout the world is assessable for Manx tax, rather than only income earned in or brought into the Island. The standard rate of corporation tax for residents and non-residents is 0%; retail business profits above £500,000 and banking business income are taxed at 10%, and rental (or other) income from land and buildings situated on the Isle of Man is taxed at 20%. Trade is mostly with the United Kingdom. The Isle of Man has free access to European Union