Countries should be able to tax a quarter of the profits of large multinationals, wherever they are earned, France proposed on Saturday at a meeting of G20 finance ministers dedicated to reviewing the rules on cross-border corporate taxation.

Key aspects remain to be clarified after G20 finance ministers formally approved plans for new rules on taxing multinationals and a 15% general tax rate.

The rise of digital commerce has enabled large technology companies to make profits in low-tax countries, regardless of where the money is made.

Rules to be approved at the Rome summit in October will allow revenue-generating countries to tax between 20% and 30% of the excess profits of large multinationals, defined as profits above 10% of income.

EU Economy Commissioner Paolo Gentiloni pointed out at the meeting that developing countries such as Brazil are demanding a higher tax rate.

“I think the best solution would be a 25% surplus to meet the concerns of some developing countries, which are legitimate,” French Finance Minister Bruno Le Maire told the press.

The new rules would apply to multinationals with a global turnover of over 20 billion euros ($23.8 billion), although the threshold could be lowered to 10 billion euros after a seven-year review.

Gentiloni said some countries want a €10 billion threshold, while others want certain sectors to be excluded from the new rules, except for financial services and mining, which are already excluded.