BBC Moscow correspondent Steve Rosenberg tweets:

Image source, Getty Images

We've also had reaction from the Azerbaijan president's spokesman. “[President Ilam Aliyev’s] children are grown-up Azerbaijani citizens. They can have their own business. This is not banned by any law," said Azer Gasimov. 

On the specific allegations that members of the president his family had secret stakes in the country's newspapers, the spokesman said: “I can’t say what is written in those [documents]. They are Azerbaijani citizens and every person has a right to run a business."

Image source, Getty Images

Media reports alleging links between Vladimir Putin and offshore transactions worth billions of dollars aimed to discredit the Russian president, his spokesman Dmitry Peskov said. He added that the Panama papers contained "nothing concrete and nothing new" about Mr Putin.  

Image source, Getty Images

Iceland's prime minister is under pressure to resign in the wake of the leaked Panama Papers, which showed he and his wife used an offshore firm to allegedly hide million-dollar investments. 

Sigmundur David Gunnlaugsson (pictured) should step down, former Social Democratic prime minister Johanna Sigurdardottir said on Monday. 

More than 16,000 Icelanders have also signed a petition demanding his resignation, while the opposition has said it will seek a vote of no confidence in parliament, likely to be held this week. 

According to the documents, Mr Gunnlaugsson and his wife Anna Sigurlaug Palsdottir bought the offshore company Wintris in the British Virgin Islands in December 2007. 

He transferred his shares to his wife in 2009 for a token $1. Mr Gunnlaugsson has denounced the release of the documents and called it a witch hunt against him and his wife.

Nick Branson, senior researcher at the Africa Research Institute, external, tweets:

Image source, Getty Images

The families of some of China's top communist brass, including President Xi Jinping (pictured), used offshore tax havens to conceal their fortunes, the Panama Papers reveal. At least eight current or former members of the Politburo Standing Committee, the ruling Communist Party's most powerful body, have been implicated.

The eight are among 140 political figures around the world alleged to have links to offshore accounts. One of the people named in the leaks is Xi's brother-in-law Deng Jiagui, who set up two British Virgin Islands companies in 2009 when his famous relation was a member of the Politburo Standing Committee but not yet president. 

Mr Xi has been dogged by foreign media reports of great family wealth. The claims are ignored by mainstream Chinese outlets and their online publication in China is suppressed. 

Image source, ICIJ

If you'd like to take a look at the array of politicians who allegedly have a connection to Mossack Fonseca, check out the International Consortium of Investigative Journalists' gallery here, external.

Image source, iStock

Want to find out more about how the rich hide their assets and avoid paying tax? Read this explainer from business correspondent Jonty Bloom.

Sweden's tax authority has said it will ask news organisations for documents leaked from Panamanian law firm Mossack Fonseca to see if they contain information about tax evasion.

The documents include the names of between 400 and 500 Swedes, according to Swedish TV. 

Associated Press journalist Alexander Roslyakov tweets:

Image source, Getty Images

Indian finance minister Arun Jaitley says those who did not take advantage of an amnesty last year to declare illegal assets abroad will find "such adventurism extremely costly", news agency PTI reports.

He said global initiatives to deal with unaccounted wealth abroad would be in place by next year.

More than 500 Indians have been linked to tax havens revealed by the leaked documents from Panamanian law firm Mossack Fonseca, according to one report.

Maggie Murphy, anti-corruption advocate with Transparency International, external, tweets:

Image source, Getty Images

French President Francois Hollande on Monday welcomed the Panama Papers. 

"I can assure you that as the information emerges, investigations will be carried out, cases will be opened and trials will be held," he said on a visit to a company in a suburb of Paris.

"These revelations are good news because they will increase tax revenues from those who commit fraud." 

Foreign Secretary Philip Hammond has been asked about offshore tax havens:

Alan Kilkenny, responding on behalf of Lord Ashcroft, has called allegations that he either personally, or through a corporate entity in some way connected with him”, had " 'partnered' and 'done business' " with Mossack Fonseca as "entirely false".

"These allegations are completely untrue, and the events as described never happened. The records upon which you claim to rely for those allegations either do not exist or have been falsified," Mr Kilkenny said. 

Victoria Derbyshire

Robert Palmer, head of Global Witness, has been on the Victoria Derbyshire programme to talk about the Panama papers. 

Global Witness investigates anonymous companies and banks that do business with the corrupt.

BBC Monitoring

Arabic news websites have also picked up the Panama papers story, although the regional TV channels have yet to report on it. 

Egyptian dailies are leading with revelations about the family of former President Husni Mubarak. An Arabic hashtag "Watha'iq Panama", or Panama_Papers, has started in Egypt but is yet to trend.

In Pakistan, The Dawn and The Nation newspapers are highlighting the alleged involvement of a senior Pakistani official and his family members in secret offshore dealings.

Elsewhere on the sub-continent, the Indian Express focuses on details of two prominent Indian actors and a real estate tycoon mentioned in the Panama papers.

BBC Monitoring

BBC Monitoring reports that media outlets around the world have been covering the revelations from the leaked Panama papers. However, some are omitting the names of key local politicians and prominent figures.

In Russia, opposition newspaper Novaya Gazeta carries a seven-page spread in Monday's edition, while a special online feature titled "Offshores Opening" names a number of friends and associates of President Vladimir Putin.

Chinese news outlets are omitting the names of Chinese officials mentioned in the Panama papers. Some websites report the leak linking Russian officials to a money laundering scheme worth $2bn. Hong Kong newspapers, meanwhile, have highlighted the involvement of the families of a senior Chinese official and another prominent figure.

In Ukraine, politicians mentioned in the leaked papers have been actively discussed on Facebook and are now being picked by 112 Ukrayina and One Plus One television channels. Some of the Ukrainian names mentioned have been trending on Twitter for several hours.

BBC Panorama
Investigative TV show

See a preview of Richard Bilton's Panorama report below. For the full story watch Tax Havens of the Rich and Powerful Exposed at 19:30 on BBC One in the UK tonight.

Jennie Granger, HMRC director-general of enforcement and compliance, said:

“HMRC is committed to exposing and acting on financial wrongdoing and we relentlessly pursue tax evaders to ensure that they pay every penny of taxes and fines they owe.

“HMRC can confirm that we have already received a great deal of information on offshore companies, including in Panama, from a wide range of sources, which is currently the subject of intensive investigation. We have asked the ICIJ to share the leaked data that they have obtained with us. We will closely examine this data and will act on it swiftly and appropriately.

“We have brought in more than £2 billion from offshore tax evaders since 2010 and the Government has repeatedly strengthened our powers and resources with new criminal offences and higher penalties, so we can take even tougher action against the minority who try to cheat the honest majority by hiding their money in offshore tax havens.

“Our message is clear: there are no safe havens for tax evaders and no-one should be in any doubt that the days of hiding money offshore are gone. The dishonest minority, who can most afford it, must pay their legal share of tax, like the honest majority already does.”