Tourism in the Isle of Man Tourism in the Isle of Man Tourism in the Isle of Man refers to the tourism industry of the Isle of Man, which has been an important element in the economy for over a century. In the early days visitors were mostly richer British families. Key for the development of the sector in the Victorian Era was the introduction of ferry connections with steamships between Liverpool and the Isle of Man, the Isle of Man Railway, and the Victoria Pier in Douglas. Later in the 19th and early 20th centuries, the island was the destination for working-class families, mainly from
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