PARIS: International talks aimed at taxing global tech giants that only declare profits in a few jurisdictions have hit a standstill due to opposition from countries including the US and India, France's finance minister said Monday.

The talks covered taxing multinationals where they make their profits in a bid to reduce tax avoidance, and come ahead of a meeting of the G20 group of large economies in India this week.

He said France had always argued that if G20 countries were unable to get agreement on the issue, a "European solution" should be sought instead, reports AFP.

"I think we're at that point now," he said.

The Organisation for Economic Cooperation and Development, a club of mostly rich countries based in Paris, has spearheaded talks on the tax which primarily targets digital giants.

A separate agreement calling for a global minimum 15 percent tax rate on multinational businesses, also coordinated by the OECD, has had more success, and is to be implemented in the "coming months", Le Maire said.