On January 1, 2020, BLACK Company purchased investment on equity securities for P1,500,000. The securities were classified as financial assets at fair value through profit or loss. By December 31, 2020, the securities had a fair value of P2,100,000 but had not yet been sold.

The company also recognized a P400,000 restructuring charge during the year. The restructuring charge was due to the impairment of a manufacturing facility. Tax rules do not allow a deduction for the write down unless the facility is actually sold. The facility was also not sold during the year.

The accounting income before income taxes for 2020 was P5,000,000. Income tax rates for current and future years is 30%. What is BLACKs current tax expense for 2020?