some of this round icons are hardly describe how original flag look like

Yes indead
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This might be stupid but maybe you could also add the time that they have idk why but maybe ?

with the /info command it could include someones GMT, to add on i suppose.

arent GMTs affecting by time zones, and i dont thik toribash gets that specific when it comes to were you are.

I know a good bit of the world's flags, but if I see one I don't know, I google "world flags" or something similar and cross reference the icon with the list. But this is a good idea. No real harm in adding it that I can think of. Alternatively, they could code it so that the country name only appears if you click(or right click, can't remember) on the icon, the same way clicking on a player shows their name.

Yes I like this idea. I saw another thread saying how they should change the flags back to the rectangles instead if the circles so it's easier to tell what country someone is from, but this just makes it extremely easy. I support it.

saves time really Supported like some flags look the same e.g: New Zealand and Australia

I support this a lot. They have this function in Team Speak and it helps a lot to figure out where they are from.