Bermuda’s role as a member of the Steering Group of the OECD Global; Forum on Transparency and Exchange of Information for Tax Purposes led the US Treasury to describe the island as a leader in global tax transparency, according to as story in the online siteTax-News.com.US Treasury official Robert Stack made the comments as the US Treasury completed FATCA negotiations. He said: “We welcome the conclusion of negotiations with Bermuda on a Model 2 Intergovernmental Agreement to implement FATCA and join our efforts to curtail tax evasion. We are particularly pleased to build upon our decades-old Tax Information Exchange Agreement relationship with Bermuda and the recent Mutual Legal Assistance Treaty.“We appreciate Bermuda’s role as a leader in global tax transparency as well as their role serving alongside the US on the Steering Group of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes. The text of the initialled agreement will be made public after it is signed.”by Mike Godfrey, Tax-News.com, New YorkEarlier this week Minister of Finance, Bob Richards, announced that negotiations between Bermuda and the United States Treasury over the US FATCA Intergovernmental Agreement (IGA) Model 2 have been completed.The agreement, initialled by Bermuda and the US, must be endorsed by the UK’s Foreign and Commonwealth Office.