I've heard the "smart work" mantra many times, but it's actually quite difficult to implement in practice. I've been told many times "we don't care when you come and go, we just want the tasks done", but what they usually mean is "you can't leave at 5 if the tasks aren't are done".

Because if you manage to finish the tasks early and leave at 2, they'll make sure you have enough tasks so that this doesn't happen again.