Tax Hike on Rich May Be Needed to Pay Thailand's Pandemic Debt, World Bank Says 

BANGKOK - Thailand’s super rich may ultimately have to pay more in taxes to address the $45 billion in government borrowing during the coronavirus pandemic, World Bank economists said Thursday, as the country struggles to roll out vaccines to flatten the curve of its worst COVID-19 outbreak. 

The kingdom, one of Asia’s least equal societies, is home to 52 billionaires, according to the Shanghai-based Hurun Rich List, the most in Southeast Asia, and outstripping Italy, Japan and Singapore.   Many have multiplied their fortunes during the pandemic — including Dhanin Chearavanont, Thailand’s richest man, with net worth of $18.1 billion on the 2021 Forbes list.  Conversely, millions of Thais have become unemployed — including an uncounted army of informal workers from tuk-tuk drivers to street vendors — while household debt has surged to 90% of gross domestic product.