Events created on the phone uses the phone tz set during the creation. It will stay that way even if you change the phone TZ.
For example:
if you phon tz is UTC and you created a event on 1PM the event will be displayed at 1PM.
After change your phone TZ to UTC+1 the events will still on the UTC TZ and they will be displayed at 1PM + 1 = 2PM.
Events need to be TZ specific they can not be floating times for several reasons (Imagine importing events without the orignal tz).
Events created on the phone uses the phone tz set during the creation. It will stay that way even if you change the phone TZ.
For example:
if you phon tz is UTC and you created a event on 1PM the event will be displayed at 1PM.
After change your phone TZ to UTC+1 the events will still on the UTC TZ and they will be displayed at 1PM + 1 = 2PM.
Events need to be TZ specific they can not be floating times for several reasons (Imagine importing events without the orignal tz).