Outlook Calendar PDT issue

Hello everyone, I just bought my first apple device and so far the experience has been excellent except for this small issue with my calendars. I use several different calendars under the same exchange account. When I create events in outlook, they sync with 2 different times in my iphone calendar.

I live in Panama City, Panama. The original time that I choose was the one that says (PDT), so how do I set that up as the default time? This doesn't happen when I create events using google calendar nor with iCalendar...

I've browsed the forums and tried the manual timezone set up, in both iPhone and iCloud, along with using timezones from countries that match mine and I've rebooted the phone several times.

I'm afraid I'll have to go back to android if I can't fix this. My calendar is like air to me, I can't live without it.