The concept of a “Virtual Warehouse” is well known to many entrepreneurs. However, not everyone has fully understood the question of what it is, what it is intended for and who is obliged to keep records of goods with its help. You will find answers to all frequently asked questions about the Virtual Warehouse in our article.
What is a “Virtual Warehouse”?
Virtual Warehouse (VW) is a specially developed module of the Electronic Invoice (EI) information system. The VW module is designed to automatically control the movement of goods:
- imported to Kazakhstan;
- produced in the country and sold within it;
- produced in Kazakhstan and exported.
The VW module is an electronic analogue of a real warehouse, and the functionality of the module allows you to keep an electronic inventory record of the goods brought to the virtual warehouse. Each organization – the user of the VW can with its help:
- “create” electronic warehouses;
- enter data on the balance of goods into the system;
- enter data on imported or manufactured goods;
- reflect data on the sale of goods in the territory of Kazakhstan.
Since the VW module is part of the EI information system, government agencies represented by the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan can use it to track online:
- the movement of imported goods through the territory of Kazakhstan from the moment of import to the sale to the final consumer or write-off;
- the movement of locally produced goods, from the producer to the final consumer.
Such transparency of the movement of goods makes it possible to simplify control over the volume of imports of certain types of goods, track the real turnover of organizations and thereby control the completeness and correctness of taxation.
Who is required to use the VW module?
Records of all imported goods need to be kept in a Virtual Warehouse. Each time goods are imported, they are identified by a specific code provided by the customs service for each respective good. After passing customs, they are processed in to the VW.
For such goods, taxpayers are required to provide information on movement, availability of balances in quantitative terms, sources of origin, etc. using the VW module.
If the goods are not included in the list of those for which it is necessary to apply the BC module, it is not required to keep records of them using the Virtual Warehouse. For such goods, it is enough to issue only Electronic Invoices.
The obligation to maintain the VW applies to all taxpayers whose activities are related to the production and sale of goods from the relevant list, or the sale of imported goods, regardless of whether the taxpayer is registered for VAT.
Users need to keep in mind that the number of “warehouses” in the VW module must correspond to the actual number of warehouses or outlets that the entrepreneur actually has. For each new warehouse opened in physical form, a corresponding virtual warehouse must be created. This will make the process of accounting for the write-off of goods correct.
Detailed information regarding work with the VW can be obtained on the website of the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan by clicking on the tabs “Main”, “Activity”, “Tax Administration”, “Electronic Invoices”.
For manufactured goods, the manufacturer must independently enter data into the BC module using the special form “Production” for this. The name of the manufacturer is indicated in the form of a particular product, its characteristics, availability of a certificate of origin, etc.
Goods are written off from the VW according to the Electronic Invoice issued by the seller to the buyer. Also write-off from a warehouse can be made out by special forms “Write-off” and “Internal transfer”.
Electronic Invoices when selling goods with VW are automatically filled with information already contained in the system. The user of the module does not need to manually enter data on the goods sold. At the same time, the system will not allow you to write off more goods from the warehouse than were brought to it. This eliminates the risk of error in keeping records of the movement of goods related to the VW, and provides end-to-end control over their movement.
How is VW useful to users? Despite the fact that the VW module was created primarily in the interests of tax and customs authorities, allowing them to simplify the work of end-to-end control over the movement of certain groups of goods, the elimination of the human factor in warehouse accounting and the resulting control for business-owners can be taken as an advantage of the system
