Around 20% is normal. The USD has slipped further than I thought compared to the Euro, and prices are usually a bit higher here. There are various explanations:
* Higher staff wages
* Government-mandated warranty
* Willingness to pay more
The same product is €79 in Germany: https://www.apple.com/de/shop/product/MJ1K2ZM/A/usb%E2%80%91... (or ~87€ in Denmark!)
Of course, if VAT is 60% like you seem to think... That would be a lot! ;-)
Here it is. Right from the mother-ship.