Europe prices, business as usual. What we pay in dollars is what they pay in pounds/euros, approximately.
PS4 launch prices, for exampleIf we assume the same price gap, we'll be paying $240 for the 8GB 480, but that's a very rough guess. VAT is a (ridiculously high by our standards) tax and completely irrelevant to the sale price. I remember helping a guy in Britain pick out a computer, and the VAT was about 20% on everything. Might as well be saying 1080 FEs cost $750, because they do with taxes, but it's a good red herring, and allows people to say "8GB 480s cost $360", and since that's memorable, it catches on, however untrue.