(1) Where a person liable to file a declaration for duty payment pursuant to Article 38 (1) has inquiries about the following matters regarding the determination of the customs value, he or she may apply for an advance ruling to the Commissioner of the Korea Customs Service before he or she files a value declaration, as prescribed by Presidential Decree: <Amended on Dec. 31, 2018>
1. Matters set forth in Article 30 (1) through (3);
2. Method for determining a customs value where it is impossible to determine the customs value by the method prescribed in Article 30;
3. Method for determining the customs value of goods being traded between persons in special relationships.
(2) Upon receipt of a written request under paragraph (1), the Commissioner of the Korea Customs Service shall issue an advance ruling on the method for determining the customs value and notify the applicant of the result within the period prescribed by Presidential Decree.
(3) Where a person notified of the result under paragraph (2) has an objection against such result, he or she may file an application for a review of an advance ruling with the Commissioner of the Korea Customs Service within 30 days from the date of receipt of such notification, as prescribed by Presidential Decree. In such cases, paragraph (2) shall apply mutatis mutandis to the period for a review of the advance ruling and the notification of the result thereof. <Newly Inserted on Dec. 23, 2014; Dec. 31, 2018>
(4) When a person liable to pay duties has filed a declaration for duty payment according to the method for determining the customs value as notified pursuant to paragraph (2) or (3) and satisfies requirements prescribed by Presidential Decree, the Commissioner of the Korea Customs Service shall determine the customs value in accordance with such method of determination. <Amended on Dec. 23, 2014>
(5) A person notified of a result pursuant to paragraph (2) after applying for an advance ruling under paragraph (1) 3 shall submit a report including the customs value calculated by applying the method of determining the customs value determined as a result of the advance ruling, its calculation process, etc. to the Commissioner of the Korea Customs Service, as prescribed by Presidential Decree. <Newly Inserted on Dec. 31, 2018>
(6) Where a person falls under any ground prescribed by Presidential Decree, such as the case where he or she fails to submit a report referred to in paragraph (5), the Commissioner of the Korea Customs Service may modify, withdraw or cancel the result of an advance ruling notified pursuant to paragraph (2). In such cases, the Commissioner of the Korea Customs Service shall immediately notify such fact to the applicant for the advance ruling. <Newly Inserted on Dec. 31, 2018>[This Article Wholly Amended on Dec. 30, 2010]