What is the financial year duration for companies in Estonia, and can it differ from the calendar year?

A company's financial year in Estonia is typically 12 months long and often coincides with the calendar year (1 January-31 December). However, a company's articles of association may specify a different financial year. It must start on the first date of a month and end on the last date of a month. In exceptional cases, the financial year may be shorter or longer than 12 months but not longer than 18 months.