The Isle of Man is a self-governing British Crown Dependency, located in the Irish Sea between the islands of Great Britain and Ireland. Part of the Norwegian Kingdom of the Hebrides until the 13th century, when it was ceded to Scotland, the Isle of Man came under the British crown in 1765. Though the Isle of Man is a British Crown Dependency, it is not part of the United Kingdom (UK) or the European Union (EU). However, the United Kingdom remains constitutionally responsible for its defence and international representation. The Isle of Man is divided into 16 local authorities, with Douglas as the capital. The official language of the Isle of Man is English.

The Isle of Man is in currency union with the United Kingdom, and the Manx pound is a local issue of coins and banknotes denominated in pounds sterling. An official separate currency code for the Manx pound does not exist; but where a distinct code is desired, IMP (Isle of Man pound) is generally used.

Offshore banking, insurance, fiduciary services, e-gaming, manufacturing, and tourism are key sectors of the Isle of Man’s economy. 

Quick rates and dates

Corporate income tax (CIT) rates
Headline CIT rate (%)	Corporate: 0;Banks: 10;Income from real estate: 20;Certain banking business and large retailers: 15

Corporate income tax (CIT) due dates
CIT return due date	One year and one day following the end of an accounting period.
CIT final payment due date	One year and one day following the end of an accounting period.
CIT estimated payment due dates	NA

Personal income tax (PIT) rates
Headline PIT rate (%)	22

Personal income tax (PIT) due dates
PIT return due date	6 October
PIT final payment due date	6 January
PIT estimated payment due dates	Monthly

Value-added tax (VAT) rates
Standard VAT rate (%)	20

Withholding tax (WHT) rates
WHT rates (%) (Dividends/Interest/Royalties)	0

Capital gains tax (CGT) rates
Headline corporate capital gains tax rate (%)	NA
Headline individual capital gains tax rate (%)	NA

Net wealth/worth tax rates
Headline net wealth/worth tax rate (%)	NA

Inheritance and gift tax rates
Headline inheritance tax rate (%)	NA
Headline gift tax rate (%)	NA

NA stands for Not Applicable (i.e. the territory does not have the indicated tax or requirement)

NP stands for Not Provided (i.e. the information is not currently provided in this chart)

All information in this chart is up to date as of the ‘Last reviewed’ date on the corresponding territory Overview page. This chart has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this chart, and, to the extent permitted by law