Does LedgerSMB support my country's laws?
We don't know enough about the ideosyncracies with your laws to evaluate that. But quite frankly Free Software sometimes poses an issue with local regulation. If you go with LedgerSMB, I'd recommend working with us to detail any shortcomings and get those resolved.
You can help us to make a list over "X country" laws and LedgerSMB shortcomings according your countrys law.