In an interview with the Belgian website 9lives, Sony Belgium revealed they are not planning to bring PSN cards to Europe. The reason?
“We know that the demand is huge, but it’s a difficult task to release them. Europe has many countries, and each of them has their own VAT [Value Added Tax], you know. We won’t say it will never come, but you can’t expect it in the near future.”
So, Europeans may see PSN cards in the future, just not in the near future. Stay tuned to PlayStation LifeStyle for more information on this as it arrives.
[Source]