(1) A person liable to pay duties shall file a value declaration on the relevant goods (hereinafter referred to as "value declaration") with the head of a customs office, as prescribed by Presidential Decree when filing an import declaration: Provided, That where it is deemed necessary to enhance the efficiency of customs clearance, a value declaration may be filed before an import declaration is made, as prescribed by Presidential Decree.
(2) Where a value declaration is filed, data related to the determination of a customs value (hereinafter referred to as "data for determination of a customs value") shall be submitted, as prescribed by Presidential Decree. <Amended on Aug. 13, 2013; Jun. 9, 2020>
(3) A value declaration may be omitted for goods determined by Ordinance of the Ministry of Economy and Finance as it is deemed clear to determine their customs value.[This Article Wholly Amended on Dec. 30, 2010]