(1) In any cases prescribed by Presidential Decree, such as where a customs value is undetermined in filing a value declaration, a person liable to pay duties may file a value declaration based on a provisional value declaration. In such cases, the methods of declaration and other necessary matters shall be prescribed by Presidential Decree.
(2) Where a person liable to pay duties files a value declaration based on a provisional value declaration in accordance with paragraph (1), he or she shall file a final value declaration with the head of a customs office within a period prescribed by Presidential Decree.
(3) Where a person liable to pay duties fails to file a final value declaration within the period pursuant to paragraph (2), the head of a customs office may determine a value to be applied to the relevant goods: Provided, That where the person liable to pay duties is deemed not to file a final value declaration because of business closure, declaration of bankruptcy, dissolution of the corporation, etc., the value to be applied to the relevant goods may be finalized even during the period referred to in paragraph (2). <Amended on Dec. 15, 2015>
(4) Where the head of a customs office has received the declaration of a final value under paragraph (2) or has finalized a value pursuant to paragraph (3), he or she shall either additionally collect or refund any difference between the amount of customs duties paid by self-assessment based on a provisional value and the amount of customs duties paid based on a final value, as prescribed by Presidential Decree.[This Article Wholly Amended on Dec. 30, 2010]