Importer valuation declarations require full disclosure and verification, with wrong statements attracting confiscation, penalty, and prosecution.

Importer valuation under the Customs Valuation Rules requires the importer or agent to furnish a declaration disclosing full and accurate details of the value of imported goods, together with any additional statement, information, document, or manufacturer's invoice that the proper officer considers necessary for determining value. The proper officer retains authority to verify the truth or accuracy of any material presented, and wrong declaration, information, statement, or documents attract the Customs Act provisions on confiscation, penalty, and prosecution.

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