Code to format number input in textbox controls (based on tag) in userform

Greetings,

I have started creating a userform with several textbox controls. The input in these textbox controls should be displayed either in the "Percent" or "Standard" format. Instead of having a code for each textbox control, I used the tag property "P" & "S" and put together this code:

Private Sub UserForm1_Initialize()
    Dim oCtrl As MSForms.control
    For Each oCtrl In Me.Controls
        If oCtrl.Tag = "P" Then
            oCtrl.Value = Format((oCtrl.Value) / 100, "Percent")
            If oCtrl.Tag = "S" Then
                oCtrl.Value = Format(oCtrl.Value, "Standard")
            End If
        End If
    Next oCtrl
End Sub

But when I enter a number in the textbox control, the display does not change.

Can someone please tell me what is wrong?

Many thanks
Asha