diff --git a/changelogs/fragments/5602-proxmox-tags.yml b/changelogs/fragments/5602-proxmox-tags.yml
new file mode 100644
index 0000000000..32498f0366
--- /dev/null
+++ b/changelogs/fragments/5602-proxmox-tags.yml
@@ -0,0 +1,2 @@
+bugfixes:
+  - "proxmox inventory plugin - handle tags delimited by semicolon instead of comma, which happens from Proxmox 7.3 on (https://github.com/ansible-collections/community.general/pull/5602)."
diff --git a/plugins/inventory/proxmox.py b/plugins/inventory/proxmox.py
index 904579a494..e33f7ed77d 100644
--- a/plugins/inventory/proxmox.py
+++ b/plugins/inventory/proxmox.py
@@ -408,7 +408,7 @@ class InventoryModule(BaseInventoryPlugin, Constructable, Cacheable):
                     stripped_value = value.strip()
                     if stripped_value:
                         parsed_key = key + "_parsed"
-                        properties[parsed_key] = [tag.strip() for tag in stripped_value.split(",")]
+                        properties[parsed_key] = [tag.strip() for tag in stripped_value.replace(',', ';').split(";")]
 
                 # The first field in the agent string tells you whether the agent is enabled
                 # the rest of the comma separated string is extra config for the agent.