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An Olympic shopping mall that benefited from £200million of taxpayers’ cash has just paid 0.5% corporation tax on tens of millions of pounds of profit.

Westfield, the world’s biggest shopping centre owner which has donated more than £200,000 to the Tories, is accused of using aggressive but legal tax avoidance tactics to shift nearly £60million to offshore tax havens during the Olympic year.

Despite raking in £141million in 2012, the accounts of a complex web of firms that built, own and manage Stratford City shopping centre in East London suggest they paid £211,893 in UK corporation tax.

Westfield said it “takes its tax responsibilities seriously” and “honours all tax requirements in the UK”.

Michael Gutman, Westfield’s UK boss, is among the elite club of Tory donors rewarded with meeting PM David Cameron and some senior ministers for giving more than £50,000 a year to the party.

Australian multinational giant Westfield owns a string of UK malls, including two in London which are the largest in Europe, and has donated £201,270 to the Conservative Party since 2012.

The Olympic Development Agency controversially spent £200million of taxpayers’ cash on roads and other infrastructure work that benefited the East London shopping centre.

A report by Australian trade union United Voice has looked at the accounts for the £1.5billion Stratford City mall, which featured singer Nicole Scherzinger at its opening.

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Stratford City is jointly owned by Westfield and two foreign pension funds from Canada and Holland.

A total of 28 subsidiaries registered in Australia, the UK, Jersey, Guernsey and US form the ownership, management and development of Stratford City but only one has employees.

This week’s United Voice report found: “In 2012, the Westfield Stratford City shopping centre made a reported profit of £39.7million. The subsidiaries that own it paid a total of £211,028 in tax on that profit.

“This equates to an effective tax rate of 0.5%. How is this possible?

“In 2012, £60.1million went to companies in Jersey, Guernsey and Delaware, where they were no longer subject to UK taxation.”

A further company, Westfield Shoppingtowns Ltd, which manages six UK shopping centres, paid £1.1million tax in 2012 but it is unclear how much relates to Stratford City profits.

A Westfield spokeswoman today accused United Voice of trying to “embarrass” the company as part of a cleaners’ pay dispute.

She said: “Westfield works closely with HMRC to ensure it’s 100% compliant. Rental income of overseas investors in UK property is subject to UK tax under long-standing income tax provisions.”

Richard Murphy from Tax Research said: “From Westfield’s accounts, it is almost impossible to tell which companies pay tax in the UK on what income and which of its offshore operations are also liable to pay tax in this country. It is time this changed.”