No it isn't, not in any big multinationals, not unless you have some extremely specific agreement with management. More acceptable is say 7:30 - 16:30, and is still often seen as slacking by folks who stay till 6-7pm. Of course if you do consistently excellent work way above rest of the peers this doesn't matter.

The reason is trivial - if you are not around half of the time rest of the team is, teamwork suffers quite a bit (which is cca constant situation with distant remote places like India, ie if you have any questions in the afternoon you are blocked and they need to wait till next day)