The first financial year of a company adopting an annual accounting period different from the calendar year may not be shorter than 6 months or longer than 18 months, without prejudice to Article 7 of the Corporate Income Tax Code.
O primeiro exercício económico das sociedades que adoptem um exercício anual diferente do correspondente ao ano civil não poderá ter uma duração inferior a 6 meses, nem superior a 18, sem prejuízo do previsto no artigo 7.º do Código do Imposto sobre o Rendimento das Pessoas Colectivas.
The first non-calendar financial year is limited to 6-18 months; the separate tax-code reference is retained.
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Unofficial English translation prepared by BCA Portugal for reference. Only the Portuguese text published in the Diário da República has legal force. Editorial notes are ours and are not part of the statute.