4 (CLO4) Mr. Kumar operates two businesses in Labuan of which the accounts of both business activities ended on 31 May annually. The businesses carried out by Mr. Kumar consist of the following: Chargeable income YA 2019 (RM) Consultation firm Leasing company 122,000 98,000 Required: a. Explain the tax treatment of business operated in Labuan and compute the amount of tax payable on Mr. Kumar for the year of assessment 2019. Page 3 of 13 (10 marks) BAA2613 TAXATION II/FE AUG 2020 b. Explain FIVE (5) exemptions enjoyed by Mr. Kumar as he operates his business in Labuan. (15 marks)