Have you looked at the VAT module?
That's just a general recommendation. Ok, now on to your question.
The answer is: We can do it! One caveat, though: You must use a Rules Component (it's a rule without an event) and we are assuming your product is only attached to one node.
Ok, so that's two caveats. On to the rules...
Rule 1) Let's change your tax rule to bring in a product field. And then we will add an action that "fetches" an entity based on a property. Basically, we can get rules to tell us the product id and then have it find the first node that has that product attached to it.
^ that's an export of the rule.
Also, let's remove the whole "Calculate a tax" action because we want an additional condition based on all this new information. In order to do that we create a component with two "Provided + Parameters." First parameter should be a "(commerce line item) line_item" and second parameter should be a "(node) product_display." We need the "product_display" to check it's content type and the line item to apply the tax.
Add a condition based on a content type. Add a "calculate tax" action.