They quietly removed that option and now only allow you to restrict it from your timeline (requires you to approve). You still need to manually remove the tag. Annoying.

Of course it's annoying. Facebook wants you to feel pain whenever you try to manage your own social presence in a way they can't monetize.

Uh? https://www.facebook.com/help/?faq=223100381057791#How-do-I-...?

again, that's only for the timeline. You are still tagged.