V1
Standard Rate Supplies
Total value of supplies (sales) subject to VAT at the standard rate of 15%.
V2
Zero-Rated Supplies
Supplies taxable at 0%, such as exports, basic foodstuffs, petrol/diesel, and certain agricultural inputs.
V3
Exempt Supplies
Supplies not subject to VAT, including financial services, residential rent, and public transport.
V4
Total Supplies
Sum of all supplies made during the tax period (standard, zero-rated, and exempt).
V5
Output Tax
VAT charged on standard-rated supplies. Calculated at 15% of the VAT-exclusive value.
V6
Input Tax
VAT paid on business purchases and expenses. Must be supported by valid tax invoices.
V7
Net VAT
Output tax less input tax. Positive means payment due to SARS; negative means refund claimable.
V8
Other Adjustments
Adjustments for change in use, bad debts, credit notes, or corrections from previous periods.