President Cyril Ramaphosa has offered his deep condolences to the family and friends of former South African Revenue Service Commissioner (SARS) Oupa Magashula, who has passed away at the age of 63.

In a statement on Wednesday, President Ramaphosa said his thoughts are with the Magashula family, as well as the friends and associates of the former Commissioner, who held office from July 2009 to July 2013.

Magashula passed away after an extended period of illness and hospitalisation.

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In his early career, he worked as a trade unionist before joining the corporate sector and the public service in the form of the South African Revenue Service.

Following his SARS tenure, he held various leadership roles in business.

President Ramaphosa said Magashula devoted his life to the development of the economy and the stimulation of entrepreneurship among a new business generation.

"He led SARS at a critical period during which our economy was affected by the global downturn of 2008 but during which we also relied on fiscal resources to host the 2010 FIFA World Cup.

"Oupa Magashula was an astute, compassionate leader, whose mission at SARS was driven by the needs of the most vulnerable South Africans and the requirements for economic growth.

"He went on to contribute to growth through his roles as chair or director of diverse business that benefited from his intellect, varied professional experience and commitment to a better South Africa. May his soul rest in peace," the President said.