Hi treasurer77,
Tagging is a relatively new feature in Quickbooks Online Australia.
I can see that running a profit and loss report by tags is not availavable just yet and I cannot give an exact timeline as to when this feature will be added to the platform.
I am more than happy however, to pass on this feedback and enhancement request to our products team so that they can keep it in mind for any up-coming releases.
Kristian.