diff --git a/erpnext/__init__.py b/erpnext/__init__.py
index e0f0c98..5ccb1b9 100644
--- a/erpnext/__init__.py
+++ b/erpnext/__init__.py
@@ -120,12 +120,14 @@
 
 	You can also set global company flag in `frappe.flags.company`
 	"""
-	if company or frappe.flags.company:
-		return frappe.get_cached_value("Company", company or frappe.flags.company, "country")
-	elif frappe.flags.country:
-		return frappe.flags.country
-	else:
-		return frappe.get_system_settings("country")
+
+	if not company:
+		company = frappe.local.flags.company
+
+	if company:
+		return frappe.get_cached_value("Company", company, "country")
+
+	return frappe.flags.country or frappe.get_system_settings("country")
 
 
 def allow_regional(fn):