Tag1 and Tag2 memo fileds are used to save printer environment in VFP reports. They are empty if you don't save it with report definition (look at menu Report - Printer Environment or Report - Properties... - Save Printer Environment).
If you remove Printer Environment from the report just above three properties remain in the Expr field of the report definition file. They are common for almost all printers and they are also critical for the report appearance. To remove them does not make a big sense. If you do it VFP then takes values which are default for the currently selected printer - you may see/change these values in VFP File - Print... dialog. It could happen some report will use values which are not suitable for its printing.
ORIENTATION=0 ... Portrait
ORIENTATION=1 ... Landscape
PAPERSIZE=1 ... Letter
PAPERSIZE=5 ... Legal
PAPERSIZE=9 ... A4
COLOR=1 ... B/W printing
COLOR=2 ... Color printing