Same here.
It appears iOS now saves calendar events to the cloud that can't always be read correctly by OSX. They've got it working so iOS and iCloud Calendar can read each other's iCloud-saved events, but OSX misinterprets them as being created with the wrong time zone (GMT +3:00 instead of +4:00 for me).
I'm pretty sure this problem is because I'm in Moscow Russia (GMT +4:00 and we don't observe Daylight Savings time) and they just haven't adjusted iCloud for that. This was a problem with Android awhile back. Anyone have any input on this? Do we all have this in common?
Here's what I know:
My time zones are all set correctly. iCal still defaults to GMT +3:00 on my MacBook for new events added by my iPad,iPhone and in the online iCloud or Google Calendars.
Deleting my calendar and reinstalling has no effect (Mac has trouble reading Google as well as iCal anyway, so that isn't the problem but I tried).
Events added on my iPhone, iPad and iCloud Calendar all read each other correctly.
iCal events added on my Mac show up correctly (without GMT adjustment) on all three devices and iCloud Calendar.
***Google calendar events added on iPhone/iPad are also off by one hour on my Mac and won't stay modified to the correct time zone (after I change the the individual event's time zone on my Mac it then appears to read iCloud and changes back after a few seconds. This is what makes me think it is the way my Mac reads the cloud in general, because with Google Calendar events, iCal always forces the event time zone back to East Africa which is GMT +3:00, but all Apple events read GMT +3:00... so it is the same exact problem with a different display name in the 'Get Info' window for the time zone field using Google Calendar).***
My time zone: GMT +4:00
iPhone 5: iOS 8.1 (12B411)
iPad 3 Retina: 8.1 (12B410)
MacBook Pro Late 2011:Mac OS X Lion 10.7.5 (11G63)
Help fixing this would be appreciated as I have dozens of calendar events each week for work, I'm often away when I add events from my phone and keeping everything straight on my Mac iCal is driving me crazy.