Nokia is being investigated for tax evasion in India, Reuters said Thursday. The news follows an alleged raid of one of the smartphone maker's facilities in India after tax authorities discovered Nokia may owe as much as $543 million in back taxes.

PricewaterhouseCoopers, a global accounting firm, was responsible for making sure Nokia's books were in-line with the law. PwC's local branch and Nokia are working with authorities on the issue, Reuters said.

Nokia also announced Thursday that it's cutting more than 300 IT jobs around the globe as it continues to restructure.