VAT Return Review Template
This VAT return review template helps South African businesses ensure their VAT201 returns are accurate, compliant, and properly reconciled before submission to SARS. Use this checklist to verify input and output VAT, reconcile accounts, and validate all supporting documentation.
VAT201 Return Review Checklist
| ✓ | Review Area | Checklist Item / Requirement |
|---|---|---|
| VAT Registration Details | Confirm VAT number and registration status are correct on the return. | |
| Output VAT Verification | Check that all taxable supplies, zero-rated and standard-rated, are correctly included. | |
| Input VAT Verification | Ensure input VAT claimed is supported by valid tax invoices and aligns with the VAT Act. | |
| VAT201 Calculations | Verify that totals for output VAT, input VAT, and VAT payable/refundable are accurate. | |
| Reconciliation | Check that VAT returns reconcile to the general ledger and VAT control accounts. | |
| Zero-Rated & Exempt Supplies | Ensure proper classification and documentation for zero-rated and exempt supplies. | |
| Supporting Documentation | Invoices, import/export documentation, and receipts retained and verified. | |
| VAT Payments | Confirm VAT due is calculated correctly and ready for payment by due date. | |
| Adjustments | Check that any corrections, credit notes, or adjustments are properly accounted for. | |
| Previous Period Review | Verify that prior periods’ carry-overs and corrections are correctly included. |
Review Tip: Performing a thorough VAT201 review reduces risk of SARS queries,
penalties, and interest. Always retain supporting documentation for at least five years.