The short answer to your question is yes. However, some conversion work has to be done. Here's a link to my initial review.
A difference between a regular AK74 magazine and the one that comes with the rifle is the magazine catch tab. The Vepr magazine catch tab is thinner. The magazine catch on the Vepr is positioned ever so slightly higher in the trigger guard. As a result, the Vepr magazine can lock in place, but a regular AK74 magazine won't. The simple solution is to file the top of the magazine catch until it will allow the ticker AK74 magazine catch tabs to lock in place.
Another difference between a regular AK74 magazine and the Vepr magazine has to do with the feed ramp. A regular AK74 rifle has the feed ramp down below the front of the chamber. The Vepr has the feed ramp actually built in to the front of the magazine. So, you'll need to install a feed ramp down below the front of the chamber. I believe that www.carolinashooterssupply.com
has them. I've read that some people were able to get them working without this modification, but I have my doubt about them being 100% reliable without it.