The economy of the Isle of Man is a low tax economy with no capital gains tax, wealth tax, stamp duty, or inheritance tax and a top rate of income tax of 18%. Offshore banking, manufacturing, and tourism form key sectors of the economy.
Douglas (Manx: Doolish) is the capital and largest town of the Isle of Man. Douglas is home to the High Courts and the Isle of Man Government. The town serves as the Island's main hub for business, finance, shipping, transport, shopping, and entertainment.
Douglas has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.
The latest cost of living rank for each of the 13 Basket Groups is now available.