Apparently, Denmark and Holland are rumored to start charging VAT on adsense earnings, another 20% loss, which, if true, would probaby put alot of people out of business. (the adsense kind)
http://www.jensense.com/archives/2006/06/some_eu_countri.html
http://www.jensense.com/archives/2006/06/some_eu_countri.html