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COST OF REVENUES AND SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
 12 Months Ended
Dec. 31, 2019
Analysis of income and expense [abstract]  
COST OF REVENUES AND SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
NOTE 6 – COST OF REVENUES AND SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

6.1 - Cost of revenues
 
 
For the year ended December 31,
 
 
2019
 
2018
 
2017
Salaries, employee benefits and social security taxes
 
(366,594
)
 
(293,171
)
 
(239,013
)
Shared-based compensation expense
 
(4,976
)
 
(4,248
)
 
(5,666
)
Depreciation and amortization expense
 
(7,350
)
 
(4,022
)
 
(4,339
)
Travel and housing
 
(17,115
)
 
(6,623
)
 
(6,631
)
Office expenses
 
(2,583
)
 
(2,082
)
 
(1,692
)
Professional services
 
(4,440
)
 
(5,248
)
 
(5,005
)
Promotional and marketing expenses
 
(252
)
 
(1,575
)
 
(244
)
Recruiting, training and other employee expenses
 
(1,854
)
 
(1,382
)
 
(415
)
Taxes
 
—

 
(203
)
 
(166
)
TOTAL
 
(405,164
)
 
(318,554
)
 
(263,171
)

 










6.2 - Selling, general and administrative expenses
 
 
 
For the year ended December 31,
 
 
2019
 
2018
 
2017
Salaries, employee benefits and social security taxes
 
(69,056
)
 
(47,805
)
 
(41,956
)
Share-based compensation expense
 
(14,912
)
 
(8,665
)
 
(8,798
)
Rental expenses (1)
 
(5,260
)
 
(17,185
)
 
(13,739
)
Office expenses
 
(10,733
)
 
(11,602
)
 
(11,800
)
Professional services
 
(13,167
)
 
(13,754
)
 
(9,885
)
Travel and housing
 
(7,259
)
 
(6,259
)
 
(4,460
)
Taxes
 
(16,201
)
 
(6,126
)
 
(6,140
)
Depreciation and amortization expense
 
(16,905
)
 
(16,521
)
 
(11,789
)
Depreciation expense of right-of-use assets
 
(14,584
)
 
—

 
—

Recruiting, training and other employee expenses
 
(2,299
)
 
(1,507
)
 
(941
)
Promotional and marketing expenses

(2,102
)

(3,763
)

(1,305
)
TOTAL
 
(172,478
)
 
(133,187
)
 
(110,813
)


(1) Includes rental expenses from short–term leases and leases of low–value assets due to the impact of the adoption of IFRS 16 since January 1, 2019.